US retail inventories increase 0.7% in June

By Ovunc Kutlu

ISTANBUL (AA) - US retail inventories increased 0.7% in June, from the previous month, according to the Commerce Department's Census Bureau advance figure released Wednesday.

The figure, which measures the change in the total value of goods held in inventory by the nation's retailers, was estimated to stand at $802.1 billion.

Retail inventories for May was revised from $796.8 billion to $796.3 billion, the agency said in a statement.

Annually, retail inventories were up 5.3% in June, compared to the same month in 2023.