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Free AccessREPEAT: MNI DATA ANALYSIS: US May Business Inventories Up 0.4%>
Repeats Story Initially Transmitted at 14:00 GMT Jul 16
--Retail Inventories Up 0.4%, Unrev From +0.4% Adv Estimate
--Total Business Inventories Excluding Retail Auto Up 0.3%
--Unpublished Retail Components Up 0.1%, MNI Calculation Shows
By Kevin Kastner, Shikha Dave, and Harrison Clarke
WASHINGTON (MNI) - The value of business inventories in May was
up 0.4%, as expected by analysts and the MNI calculated prediction,
data released by the Commerce Department Monday morning showed.
Retail inventories increased 0.4%, unrevised from the advance
estimate of a 0.4% gain. Data from the wholesale inventory report showed
a 0.6% rise in the month, which was up from the 0.5% rise in the advance
report, while factory inventories were up 0.2%.
According to an MNI calculation, if a 0.9% increase in motor
vehicle inventories had been excluded, total business inventories would
have been up 0.3% in May. The increase in motor vehicles was revised
down to 0.9% from the 1.0% gain in the advance estimate.
After excluding the increase in motor vehicle inventories, the
remaining retail categories were up 0.1%, unrevised from the
advance estimate for a 0.1% gain. There were increases in every
published category except furniture and apparel.
According to an MNI calculation, the unpublished retail categories
rose 0.1% following a 0.4% increase in April.
May business sales posted a 1.4% increase in the month, higher
than the 1.3% rise forecast by MNI after the wholesale data released.
but before the upward revision to May retail trade sales released
earlier Monday morning.
Retail sales excluding food services rose 1.1% in May, revised up
from the 0.8% gain reported last month. Factory shipments, which are
equal to sales in this report, were up 0.6%, while wholesale sales
surged by 2.5%.
The inventory-to-sales ratio fell to 1.34 in May from 1.35 due to
the larger gain in sales than in inventories this month. The ratio
remains well below the 1.39 level seen in May 2017, as sales growth has
outpaced inventory growth over the last year.
** MNI Washington Bureau: 202-371-2121 **
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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.