Economic TimesLean R·
US wholesale inventories surge in July
U.S. wholesale inventories surged in July, the government confirmed on Thursday, potentially positioning inventories to contribute to economic growth in the third quarter.Stocks at wholesalers jumped by an unrevised 1.3%, the Commerce Department's Census Bureau said. Inventories, a key part of gross domestic product, increased 0.4% in July. They rose 5.7% on a year-over-year basis in July.Businesses are replenishing inventories, which have been drawn down for five straight quarters am…
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