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- U.S. business inventories rise in line with economist estimates
U.S. business inventories rise in line with economist estimates
Business
inventories in the
The report
said business inventories increased by 0.3 percent in April compared to a revised
0.1 percent decrease in March. The modest rebound matched the expectations of
economists.
Retail
inventories rose by 0.4 percent, while inventories at both manufacturers and
merchant wholesalers edged up by 0.2 percent.
Meanwhile,
the Commerce Department also said business sales dipped by 0.1 percent in April
after tumbling by 1.2 percent in the previous month.
The drop in
business sales reflected a 0.7 percent decrease in sales by manufacturers. The
report said sales by retailers were unchanged, while sales by merchant
wholesalers rose by 0.5 percent.
With
inventories rising and sales falling, the total business inventories/sales
ratio inched up to
The report
also showed that business inventories increased at an annual rate of 4.2
percent in April, while business sales were up by 1.5 percent year-over-year.
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