MNI DATA ANALYSIS: US July Business Inventories Rise 0.2%>

--Retail Inventories -0.1% Vs -0.2% In Advance Estimate

--Total Business Inventories Excluding Retail Auto +0.3%

--Unpublished Retail Components -0.3% In July, MNI Calculation Shows

By Kevin Kastner

     WASHINGTON (MNI) - The value of business inventories rose 0.2% in 

July, as expected by analysts and predicted by an MNI calculation, while 

business sales were also up 0.2%, a Commerce Department report Friday 

showed. 

     Retail inventories fell 0.1%, revised up slightly from the 0.2% 

decline reported in the advance estimate. Wholesale inventories rose 

0.6% in the month, while factory inventories were up 0.2%. 

     Business inventories would have been up 0.3% in July if a flat 

reading for retail motor vehicle inventories was excluded, an MNI 

calculation showed. 

     Retail inventories, after excluding the motor vehicle inventory 

gain, were down 0.2% in the month, unchanged from the advance estimate. 

The remaining retail components were mixed, with inventory gains for 

furniture, building materials, and food stores partially offset by 

declines at clothing stores and general merchandise stores. 

     In addition, the unpublished retail categories were down 0.3% for 

the month, according to an MNI calculation, following a 0.8% increase in 

the previous month. 

     Business sales rose 0.2% in July. Retail sales excluding food 

services were up 0.3%, while wholesale sales fell 0.1% and factory 

shipments rose 0.3%. 

     With the similar movements in business inventories and sales, the 

inventory-to-sales ratio held steady at 1.38 in July, but was down from 

1.40 in July 2016 as sales growth outpaced inventory growth over the 

last year. 

     ** MNI Washington Bureau: 202-371-2121 ** 

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