Recent Updates

  • Lebanon: BOP (Jun)
  • Nigeria: Labor Force Survey (Q3)
  • Israel: Area of Building Starts & Completions (Q3)
  • Taiwan: Trade Indexes (Nov)
  • Portugal: Trade in Services (Oct)
  • Germany: PPI (Nov), Unfilled Orders (Oct), Ifo Business Climate Survey (Dec)
  • France: Imported Raw Materials Prices (Nov)
  • UK: PPI, CPI, RPI (Nov), CBI Industrial Trends Survey (Dec)
  • more updates...

Economy in Brief

U.S. Business Inventories Continue To Accumulate Moderately
by Tom Moeller  January 15, 2013

Business inventories rose 0.3% (5.5% y/y) during November, the same as a month earlier. The increase left the y/y rise at a steady 5.5%. The 0.6% gain (7.0% y/y) in merchant wholesalers inventories led the increase, supported by a 1.3% rise (3.2% y/y) in petroleum inventories. Elsewhere, wholesale inventories increased a firm 0.5% (7.2% y/y) led by strength in farm products (16.5% y/y) and lumber (11.8% y/y). Inventories at the retail level gained 0.3% (7.8% y/y). That was paced by a 0.5% rise in autos (20.1% y/y). Nonauto retail inventories inched up 0.2% (3.1% y/y) reflecting strength in clothing stores (3.8% y/y) and building materials (3.8% y/y). Factory inventories slipped (+2.4% y/y) for the second consecutive month.

Business sales jumped 1.0% (4.3% y/y) as wholesale sales surged 2.3% (5.6% y/y). Across the board strength was led by a 7.8% jump (25.6% y/y) in sales of farm products. As reported earlier retail sales rose 0.3% (3.8% y/y) as auto sales increased 2.7% (7.3% y/y). Excluding autos, sales slipped 0.3% (+2.9% y/y). Factory shipments gained 0.4% (3.7% y/y).

The manufacturing and trade data are in Haver's USECON database. 

 

Business Inventories(%)

Nov Oct Sep Nov Y/Y 2011 2010 2009
Total 0.3 0.3 0.7 5.5 7.7 8.3 -9.4
 Retail 0.3 0.6 0.3 7.8 3.6 6.1 -10.1
  Retail excl. Motor Vehicles 0.2 0.4 -0.0 3.1 3.7 3.9 -4.8
 Merchant Wholesalers 0.6 0.3 1.1 7.0 9.9 10.1 -11.8
 Manufacturing -0.0 -0.0 0.6 2.4 9.4 8.8 -6.8
Business Sales (%)
Total 1.0 -0.3 1.2 4.3 11.3 9.7 -14.8
 Retail 0.3 -0.2 1.2 4.4 8.3 5.8 -7.9
  Retail excl. Motor Vehicles -0.1 0.2 1.1 3.4 7.6 4.7 -6.4
 Merchant Wholesalers 2.3 -0.9 1.9 5.6 13.5 11.6 -16.2
 Manufacturing 0.4 0.3 0.7 3.7 11.8 11.2 -18.8
I/S Ratio
Total 1.28 1.28 1.28 1.26 1.26 1.27 1.39
 Retail 1.38 1.38 1.37 1.33 1.34 1.38 1.46
  Retail Excl. Motor Vehicles 1.20 1.19 1.19 1.19 1.21 1.24 1.30
 Merchant Wholesalers 1.19 1.21 1.20 1.17 1.16 1.18 1.31
 Manufacturing 1.27 1.28 1.28 1.29 1.27 1.28 1.39
close
large image