STORY CONTINUES BELOW THESE SALTWIRE VIDEOSWASHINGTON - U.S. business inventories were unchanged in July as companies continued to carefully manage stocks in anticipation of weak demand because of higher interest rates.
Economists polled by Reuters had expected inventories to edge up 0.1%. Inventories, a key component of gross domestic product, increased 1.4% on a year-on-year basis in July. Retail inventories increased 0.2% in July, instead of 0.3% as estimated in an advance report published last month. They rose 0.5% in June.