Business Inventories Increase 1% in July

Business inventories rose 1% in July, the fastest pace in two years, the Commerce Department said Tuesday.

The increase followed a revised 0.5% increase in June. Sales gained 0.7% following a revised 0.5% decline.

Economists had forecast inventories would rise 0.7%, Bloomberg reported.

Factory inventories gained 1%, while wholesale stockpiles gained 1.3%. Sales at manufacturers grew 1.1%, while wholesalers’ sales gained 0.6%.

When sales are growing, it usually means trucking is seeing additional demand to deliver goods and restock shelves.