US business inventories for August 2021
- Prior was +0.5% revised to +0.6%
- Inventories up 7.4% YoY
- Sales up 15.3% YoY
- Inventory/Sales ratio 1.26x vs 1.25x last month. The August 2020 ratio was at 1.35x
Inventories remain lean that is the bad news. The good news is that inventory replenishment could extend into 2022 (and maybe longer) as the reopening and supply chain bottlenecks become unclogged.
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