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Monday, April 23, 2018 3:34:44 AM EDT




Business Inventories
Briefing.com Updated 16-Apr-18 10:30AM ET

Total business inventories increased 0.6% in February, as expected, following a 0.6% increase in January.

Total business sales increased 0.4% after a downwardly revised 0.3% decline (from -0.2%) in January.

Manufacturers' and wholesalers' inventories were known ahead of time, so the missing variable was the report on retailers' inventories, which were up 0.4% after increasing 0.7% in January.

Inventories were up across all retail categories, led by furniture, home furnishings, electronics and appliance stores (+1.0%), motor vehicle and parts dealers (+0.9%), and building materials (+0.9%).

On a year-over-year basis, total business inventories were up 4.0% while total business sales were up 5.8%.

The inventories-to-sales ratio held steady at 1.35, but was down from 1.37 at the same time a year ago.

The key takeaway from the report is that inventory growth outpaced sales growth, as inventories increased for manufacturers (+0.3%), retailers (+0.4%), and merchant wholesalers (+1.0%).
 
FEBJANDECNOVOCT
Inventories0.6%0.6%0.6%0.4%0.0%
Manufacturers0.3%0.4%0.7%0.5%0.3%
Retailers0.4%0.7%0.3%0.2%0.0%
Wholesalers1.0%0.9%0.7%0.6%-0.4%
Sales0.4%-0.3%0.5%1.4%0.8%
Manufacturers0.2%0.7%0.7%1.4%0.8%
Retailers-0.1%-0.2%-0.2%0.8%0.7%
Wholesalers1.0%-1.5%0.8%1.9%0.8%
Inventory/Sales1.351.351.331.331.34
Manufacturers1.351.351.351.351.36
Retailers1.451.441.431.421.43
Wholesalers1.261.261.231.231.25