US Business Inventories Unchanged in August

The Commerce Department says U.S. businesses kept their stockpiles unchanged and registered lower sales in August, numbers that could weigh on third-quarter economic growth.

Business inventories were flat from July. Sales slid 0.6 percent, the biggest drop since a 2.3 percent fall in January.

Firms’ caution in building inventory could be a drag on economic growth in the July-September. Economists are expecting growth to slow in the second half of the year from the robust 3.9 percent annual growth rate recorded from April through June.

Commerce reported earlier in the day that retail sales rose just 0.1 percent in September, held down by plummeting gasoline prices and a strong dollar that made imported goods cheaper.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza