Global| Aug 10 2006U.S. Business Inventories Gain
by:Tom Moeller
|in:Economy in Brief
Summary
Total business inventories in June rose 0.8% in line with consensus expectations after a 1.1% upward revised gain in May. June business sales edged up only 0.2% from a 1.6% rate in the prior month. The inventory/sales ratio moved up [...]
Total business inventories in June rose 0.8% in line with consensus expectations after a 1.1% upward revised gain in May. June business sales edged up only 0.2% from a 1.6% rate in the prior month. The inventory/sales ratio moved up to 1.26 from its low in May of 1.25.
Retail inventories increased 0.9% (5.8% Y/Y) after an unrevised 1.6% jump in May. The stocks at motor vehicles and parts dealers surged by 1.7% (9.4% Y/Y) in June, while excluding autos, retail inventories rose 0.5% (4.1% Y/Y). Furniture inventories moved up by 0.6% (4.5% Y/Y), while building materials inventories grew by 0.5% (7.8% Y/Y). Inventories at food and beverage stores and at clothing stores each rose 0.4%.
Wholesale inventories increased 0.8% (8.1% Y/Y) in June after a 0.9% gain in May. June petroleum inventories leveled off (-0.1%) after jumping 6.8% in May, but were still 35.8% higher than a year ago. Durables rose 0.5% (8.4% Y/Y) while nondurables were up 1.1 % (7.4% Y/Y).
Factory inventories rose 0.8% (5.5% Y/Y) in June. May inventories were revised up to a 0.7% gain from the earlier estimate of a slight dip.
| Business Inventories | June | May | Y/Y | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|
| Total | 0.8% | 1.1% | 6.3% | 4.4% | 7.6% | -1.0% |
| Retail | 0.9% | 1.6% | 5.8% | 2.7% | 6.7% | 3.8% |
| Retail excl. Autos | 0.5% | 0.7% | 4.1% | 4.5% | 7.1% | 1.9% |
| Wholesale | 0.8% | 0.9% | 8.1% | 7.1% | 9.8% | 1.8% |
| Manufacturing | 0.8% | 0.7% | 5.5% | 4.0% | 6.9% | -7.4% |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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