US business inventories for April 0.5% versus 0.5% estimate
US business inventories for April 2019
The US business inventories for April came in at 0.5% which was spot on the expectations. In April, inventories came in unchanged.
Business inventories rebounded by April sales fell. inventories overall are still expected to be a drag on economic growth in the 2nd quarter
- business sales -0.2% versus March +1.3%
- motor vehicle inventories surged 0.8%
- April retail inventories ex-autos unrevised at +0.4%. This goes into the GDP calculations.
- inventory to sales ratio 1.39 months versus 1.38 months in March