US DATA: Mar wholesale inv +0.3%, sales +0.5%, inv/sales ratio 1.17,
unch from Feb. Mar wholesale inventories ex. autos were +0.3% vs +1.1%
in Feb, an MNI calc shows. Total nondurables inv -0.6% on declines in
petroleum inv and groceries. Durables inv +1.0%, with autos +0.4% and
every other component either flat or up from Feb. Durable sales -0.6%,
led by a drop in autos. Nondurable sales +1.5%. Factory inventories
already reported +0.3% in Mar, so the outlook for business inv growth is
for modest growth pending the retail inv data when they are released.