Business Inventories and Retail Sales rise in the month of July

Despite a relatively tepid progression in the US economic recovery over the summer, US businesses have increased their inventories and business sales in the month of July, according to government reports. Inventories have increased 1 percent in the last month, and business sales have increased 0.4 percent in the same period. Both of these increases are poised to make a substantial increase in GDP in the third quarter. This news comes amidst growing concerns of a US double dip recession and an alarmingly challenging unemployment rate of over 9 percent. Still, some are concerned that these benefits are merely temporary, and are among the last remnants of the fading economic stimulus passed in early 2009 that seems to be phasing itself out of the US economy.