Last Update: 07-Jun-19 10:14 ET
- Wholesale inventories increased 0.8% in April (Briefing.com consensus +0.7%) on top of an upwardly revised unchanged indication (from -0.1%) for March.
- Wholesale sales declined 0.4% following a downwardly revised 1.8% increase (from 2.3%) in March.
- On a year-over-year basis, total sales were up 2.7% while total inventories were up 7.6%.
- Durable inventories increased 1.0% in April, driven by a 3.8% increase in automotive inventories.
- Nondurable inventories increased 0.5% in April, driven by a 1.5% increase in drugs inventories.
- The inventories-to-sales ratio increased to 1.34 from 1.33 in March. In the same period a year ago, the ratio stood at 1.28.
- The key takeaway from the report is that inventory growth continues to outpace sales growth on a year-over-year basis, which should help keep price pressures in check.