US retail inventories increase 0.7% in June

By Ovunc Kutlu

ISTANBUL (AA) – Retail inventories in the US increased 0.7% in June, according to the Commerce Department's Census Bureau figures released on Thursday.

The figure, which measures the change in the total value of goods held in inventory by the nation's retailers, was estimated at $783.9 billion.

Retail inventories in May were unrevised at an increase of 0.7%, the Census Bureau said in a statement.

On an annual basis, retail inventories were up 5.4% in June from the same month of last year.