US retail inventories increase 1.1% in August

By Ovunc Kutlu

ISTANBUL (AA) - Retail inventories in the US increased 1.1% in August, according to the Commerce Department's Census Bureau advance figures released Friday.

The figure, which measures the change in the total value of goods held in inventory by the nation's retailers, was estimated at $793.4 billion.

Retail inventories for July were revised up from an increase of 0.2% to a gain of 0.5%, the agency said in a statement.

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