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MNI: U.S. business inventories for March dropped.....>

MNI, NEWS
MNI: U.S. business inventories for March dropped by -0.2%, marking an
end-of-month level of $2,012.5 billion. The decline matched market estimations,
according to the BBG estimate. February's business inventories change was
revised down by 0.1 points to -0.5% m/m, marking a level of $2,016.7 billion.
Manufacturers and merchant wholesalers both saw a -0.8% m/m decline in
inventories while retailers saw a +1.0% uptick. Total business sales for March
dropped by -5.2% leading to a inventories/sales ratio of 1.45 for that month.
This release reflected revisions made to monthly retail estimates that were
released on April 27, 2020.
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