Inventories continued to pile up at US retailers in August
Updated : 15:33
US business inventories edged past forecasts in August as product stockpiles at retailers rose sharply amid a drop in sales in that same sector.
Total inventories increased by 0.2% month-on-month and 0.7% yaer-on-year to reach $1.82trn according to the Department of Commerce.
Economists had anticipated a rise of 0.1% over the month.
The inventory to sales ratio meanwhile was unchanged at the previous month's level of 1.39 and up from 1.35% on year ago.
In seasnally adjusted terms, inventories at factories rose by 0.2% in comparison to July and those at retailers by 0.7%, while inventories at merchant wholesalers declined by 0.2%.
Total business sales were 0.2% higher on the month at $1.30trn but dropped by 0.3% at retailers.
Manufacturers' sales were flat while those of wholesalers increased 0.7%.
In comparison to August 2015 the inventory to sales ratio worsened from 1.46 to 1.51.