Inventories Rise; Sales Rebound
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WASHINGTON — Inventories held by American businesses rose in June at the fastest clip in three months, while business sales rebounded after a huge downturn, the government reported today.
The Commerce Department said June sales hit $423.6 billion, up 0.5% from May, when sales had plummeted 1.6%. Inventories held by businesses rose 0.4% after a 0.3% decline in May. Analysts said the advance in inventories may be signaling the end of a period when businesses cut back sharply on inventories because of a huge oversupply.
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