U.S. businesses held the value of their inventories steady in June and rising sales pushed the stocks-to-sales ratio down to a record low, the government said on Thursday.
Sales rose 0.7 percent in June after an unchanged reading in May, the Commerce Department said. The strong sales performance pushed the inventories-to-sales ratio a measure of the number of months it would take to deplete stocks at the current sales pace to a record low 1.29.
