Last Update: 02-Jul-15 16:58 ET
- Wholesale inventories increased 0.4% in April following an upwardly revised 0.2% gain (from 0.1%) in March. The Briefing.com Consensus expected wholesale inventories to increase 0.2%.
- Durable goods inventories increased 0.1% in April, down from a 0.5% increase in March. Gains in automotive (1.8%) and machinery inventories (0.7%) offset declines in professional equipment (-2.1%) and metals (-1.2%) inventories.
- Nondurable goods inventories increased 0.8% in April after declining 0.3% in March. Much of the increase was the result of higher petroleum and gasoline prices, which helped boost petroleum inventories by 2.3% in April.
- Wholesale sales increased 1.6% in April after declining 0.3% in March. Large gains were recorded in farm products (7.4%), petroleum (4.9%), and automotive (3.2%) goods.
- The inventory-to-sales ratio fell to 1.29 in April from 1.30 in March.
- Wholesale inventories are just one component of total business inventories. Manufacturing and retail inventories make up the rest of total business inventories. The market ignores this release and doesn't pay much attention to the full business inventory release that comes a few days later. Improved inventory management in recent years has reduced the economic swings associated with inventories and has helped produce a long-term downtrend in the inventory-to-sales ratio.