US retail inventories increase 0.7% in July

By Ovunc Kutlu

ISTANBUL (AA) - Retail inventories in the US increased 0.3% in July, according to the Commerce Department's Census Bureau figures released Wednesday.

The figure, which measures the change in the total value of goods held in inventory by the nation's retailers, was estimated at $784.1 billion.

Retail inventories in June were revised down from an increase of 0.7% to 0.5%, the agency said in a statement.

Retail inventories were up 4.5% in July from the same month last year.