Inventories at U.S.
factories, wholesalers and stores rose more in July than at any
time in 1 1/2 years, as auto dealers boosted stockpiles to meet a
surge in orders for cars and trucks.
The 0.4 percent increase in inventories was the strongest
since November 2000 and followed a 0.3 percent gain in June, the
Commerce Department said. Sales at U.S. businesses jumped 1.2
percent, four times the prior month’s gain and the largest rise
since April.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
Learn More
Stockpiles have increased for three straight months, the
longest stretch since June 1998 through January 2001, just before
the economy’s record expansion ended and recession began in March
2001. General Motors Corp. is raising production and replenishing
inventories because consumers keep buying cars and trucks.
“If sales continue to expand and if businesses are reassured
that this will be sustained, then they might be willing to stock
up” and strengthen the economy’s rebound, said Jade Zelnik, chief
economist at Greenwich Capital Markets Inc. in Greenwich,
Connecticut.
Bloomberg News
