UPDATED:
9/9/2011 10:15:00 AM
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Wholesale inventories rose 0.8% in July, the Commerce Department said Friday.
Wholesale sales were flat in July, Commerce said.
The inventories gain, which followed a 0.6% increase in June, was slightly above economists’ median forecast of a 0.7% gain, Bloomberg reported.
Durable goods stockpiles climbed 1% as automobile and parts imports continued to rise.
Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.
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