-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI DATA ANALYSIS: US August Wholesale Inventories Up 0.9%>
--Aug Wholesale Sales +1.7%, Inventory/Sales Ratio 1.28 Vs 1.29
--August Business Inv Tracking +0.7%, Business Sales +0.7%
By Holly Stokes and Sara Haire
WASHINGTON (MNI) - The value of wholesale inventories rose
0.9% in August, a downward adjustment from the 1.0% gain
estimated in the advance estimate, while wholesale sales rose 1.7%,
data released Friday by the U.S. Commerce Department showed.
Looking ahead to business inventories report to be released on
October 13, the tracking looks positive for both business
inventories and business sales.
With the addition of the 0.9% gain for wholesale inventories
reported Friday, an MNI calculation expects a 0.7% increase in
business inventories when it is released, assuming no revision to the
0.7% increase reported for retail inventories in the advance estimate.
Factory inventories were reported yesterday up 0.4% for August.
The 1.7% increase for wholesale sales reported Friday, offsets a
0.3% decline for retail trade sales from last month's advanced sales
release and a moderate 0.5% increase for factory shipments reported
October 5, adding up to a 0.7% increase for business sales barring a
large revision to retail trade sales.
With the rise in August wholesale inventories, but the larger
increase in wholesale sales, the inventory/sales ratio fell to 1.28 from
1.29 in July, hitting its lowest since December 2014. The ratio was
still below the 1.32 mark in August 2016, as sales have increased faster
than inventories over the last year.
Excluding the auto category, wholesale inventories would have been
up 0.8% in August after a 0.7% increase in the previous month,
an MNI calculation showed. Sales would have been +1.5% in August if auto
sales were excluded. This followed a small 0.1% gain in July, with the
year-over-year being +6.7%.
The value of durable inventories rose by 0.8% in the month,
though auto inventories rose by 2.2%. The remaining durables
components all posted positive gains, with the exception of machinery
which was flat for the month. The biggest gains were in autos and
metals, which rose by 2.3%.
Nondurables inventories were up 1.2% in August. The biggest
gains were seen in drugs, which was up 3.7%, paper up 1.8%, and
petroleum up 1.7%. Other components were mixed, with apparel,
alcohol, and misc. nondurables posting a negative.
Durables goods sales were up 2.0% in the month, with auto
sales up 4.2%. The remaining components were mixed, with gains in
everything except furniture and lumber.
Nondurable goods sales were up 1.5% in August after a 0.2% loss in
July. Petroleum sales were up 6.1% after a small 0.1% increase in July.
The other component movements were split between gains and losses.
US Commerce stated that it cannot isolate the effect of Harvey on
the data, but that they did receive indications that it caused both
positive and negative effects.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,M$U$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.