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US Wholesale Inventories Surge in July
Stocks at wholesalers rose 1.3% and sales rebounded 0.8%, the Commerce Department said, as businesses replenished inventories after five straight quarters of drawdowns.
In July, the United States experienced a notable spike in wholesale inventories, paving the way for anticipated economic growth in the third quarter. Inventories for both durable and nondurable goods surged significantly, while wholesale sales made a comeback after a downturn. The rise in the inventories to sales ratio suggests a slight extension in the time needed for goods to clear from shelves.