Business Inventories Rise 0.1%, Commerce Reports
usiness inventories rose 0.1% in May, the Commerce Department said Friday.
The rise brought the value of goods on hand at manufacturers, retailers and wholesalers to $1.3 trillion, Commerce said.
The increase was the smallest since September and was below analysts’ estimates of 0.2%, Bloomberg reported. It followed a revised 0.2% gain in April that had been reported originally at 0.3%.
When inventories and sales are growing, it usually means trucking is seeing additional demand to deliver goods and restock shelves.
The inventory-to-sales ratio, which measures how long supplies will last at current demand levels, held at 1.3 months.
Retail inventories rose 0.2% following a 0.1% drop in April. Auto and parts dealers’ inventories fell 0.6% following no change the previous month.