Wholesale Inventories Rise 0.8% in July

Wholesale inventories rose 0.8% in July, the Commerce Department said Friday.

Wholesale sales were flat in July, Commerce said.

The inventories gain, which followed a 0.6% increase in June, was slightly above economists’ median forecast of a 0.7% gain, Bloomberg reported.

Durable goods stockpiles climbed 1% as automobile and parts imports continued to rise.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.