US September business inventories for September 2021
- Prior was 0.6% revised to 0.8%
- retail inventories up 0.7% versus 0.6% last month
- Inventories up 7.5% YoY
- Sales up 0.9% MoM and 15.5% YYoY
- Inventory/sales ratio 1.26x vs 1.26x last month. The September 2020 ratio was at 1.35x.
The lower inventory to sales ratio is indicative of the supply chain bottlenecks. The good news is that is the bottlenecks on wind, the hope is the inventories are replenished, while sales remain strong adding to GDP growth in the process.
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