U.S. Business Inventories Rise in May

Business inventories in the United States increased by 0.5% in May, according to official data.

The increase came above the expected 0.1%, with businesses aiming to cope with the rising demand as the economy reopens and shows more signs of recovery from the coronavirus pandemic (COVID-19).

Moreover, the ratio of inventories to sales rose to 1.26 from 1.25 in April.