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August US business inventories increase 0.7% from previous month

U.S. business inventories went up 0.7% in August from the previous month and rose 3.6% from a year ago, the U.S. Census Bureau reported.

Manufacturers' and trade inventories increased to an estimated, seasonally adjusted $1.889 trillion at the end of August from the revised $1.876 trillion in July when inventories ticked up 0.3%.

Sales came in at $1.369 trillion, up 0.7% and 5.5% from July and August 2016, respectively.

The inventories-to-sales ratio at the end of August was 1.38, compared to 1.40 from the same month last year.