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Last Update: 12-Aug-11 10:45 ET
Business Inventories Show Modest Gain
Total business inventories increased 0.3% in June after increasing a negatively revised 0.9% (from 1.0%) in May.
The Briefing.com consensus expected inventories to increase 0.5%. Inventory growth for both manufacturers (0.2%) and merchant wholesalers (0.6%) was known prior to the release. The only piece of new information was that retailer inventories increased 0.2% in June after increasing 0.4% in May. The growth in retailer inventories was in-line with the BEA estimates from the advance Q2 GDP report and should have little effect on revisions in the second estimate.
Business sales increased 0.4% in June after falling 0.1% in May.
The inventory/sales ratio remained at 1.28 in June.
