US business inventories for March comes in at 0.0% vs 0.1% expected

Author: Greg Michalowski | Category: News

Prior month 0.6%

The US business inventories come in weaker than last month and weaker than expectations
  • Inventories were unchanged in March
  • The prior month was at 0.6%
  • The inventory to sales ratio 1.34 montsh vs 1.35 months in February
  • Business sales were 0.5% vs 0.5% in Feb (revised higher from 0.4%)
  • The level is the lowest since October 2017
  • Auto inventories fell -1.1% vs 0.8% gain in February
  • Retail inventories ex autos, which go into GDP, fell -0.1% vs a 0.2% gain in February
  • Wholesale inventories rose 0.3%
The data will go into the 1Q GDP revision calculations. The Commerce Department estimated inventory investment added 0.43% to the 2.3% overall gain.  The -0.1% fall in retail inventories ex auto should be a negative for the revision (all things equal).