Business Inventories, Sales Rise in July

Washington, DC, Sept. 14, 2011 — Business inventories rose 0.4% in July, slightly less than expected, following a similar gain in June, according to the Commerce Department.

Business sales were also up 0.7% in July.

Economists expected inventories to rise 0.5% in July.

The strong increase in inventory growth shows businesses were optimistic about the economy despite weak consumer spending and other sluggish economic indicators.