RTTNews - Business inventories fell by more than expected in the month of June, according to a report released by the Commerce Department on Thursday, although the report also showed a notable increase in business sales during the month.
The report showed that business inventories fell 1.1 percent in June followed a revised 1.2 percent decrease in May. Economists had been expecting inventories to fall by 0.9 percent compared to the 1.0 percent decrease originally reported for the previous month.
At the same time, the Commerce Department said that business sales rose 0.9 percent in June after coming in unchanged in the previous month. Nonetheless, business sales were still down 18.0 percent compared to the same month a year ago.
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