Business inventories rose by 0.6% in the month of April. While this report from the Department of Commerce is reported with a one month lag, inventories are an indication that businesses are stocking up for a summer snap-back economy. Bloomberg and Dow Jones were both calling for a buildup of 0.4% in inventory growth.
Another win is that the 0.4% build in March inventories did not get revised from the initial 0.4% report. Also, the April report was the strongest build in six months.
Sectors leading the pack were electronics stores, wholesalers, furniture stores and car dealers. To put this perspective in dollar terms, the April gain of 0.6% was up to $1.337 trillion.
Business inventories measure the total dollar amount of inventories held by manufacturers, wholesalers and retailers. By tallying this up against sales, economists and investors get a picture of the near-term production and consumption, giving some insight into forward gross domestic product readings.
ALSO READ: Ten States With the Fastest Growing Economies
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.