Investing.com – U.S. business inventories rose less-than-expected in July, official data showed on Wednesday.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 0.4% in July, short of expectations for a 0.5% gain.
June’s figure was revised to an increase of 0.4% from a previously reported 0.3% gain.
Year-on-year, business inventories rose at an annualized rate of 10.6% in July, after rising at a rate of 11.1% in June.
Following the release of the data the U.S. dollar was fractionally lower against the euro, with EUR/USD easing up 0.02% to trade at 1.3682.
Meanwhile, U.S. equity markets were mixed after the open. The Dow Jones Industrial Average shed 0.15%, the S&P 500 index edged 0.1% lower, while the Nasdaq Composite index was up 0.3%.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 0.4% in July, short of expectations for a 0.5% gain.
June’s figure was revised to an increase of 0.4% from a previously reported 0.3% gain.
Year-on-year, business inventories rose at an annualized rate of 10.6% in July, after rising at a rate of 11.1% in June.
Following the release of the data the U.S. dollar was fractionally lower against the euro, with EUR/USD easing up 0.02% to trade at 1.3682.
Meanwhile, U.S. equity markets were mixed after the open. The Dow Jones Industrial Average shed 0.15%, the S&P 500 index edged 0.1% lower, while the Nasdaq Composite index was up 0.3%.