Business inventories remained quite subdued in the month of April. While this report might only confirm prior news rather than sway the markets much, it shows a continued muted inventory climate in which businesses just do not seem eager to restock.
April’s inventory levels rose by 0.1%, less than the 0.2% gain expected by both Bloomberg and Dow Jones.
March’s inventory readings were also revised lower. That reading sank to 0.3% rather than the 0.4% that was initially reported.
The U.S. Census Bureau, via the U.S. Department of Commerce, put the combined value of distributive trade sales and manufacturer shipments at an estimate gain of 0.9% to $1.2902 trillion on a seasonally adjusted basis. However, on a year-over-year basis, this reading was down by 1.3% from April of 2015.
A dollar reading on inventories, also seasonally adjusted, was estimated at an end-of-month level of $1.8071 trillion. That 0.1% gain over the prior month looked a tad better than a year-on-year reading, whereby the Commerce Department showed that gain was 1.0% from April of 2015.
The critical seasonally adjusted inventories-to-sales ratio was 1.40 in April, and the April 2015 ratio was 1.37.
Cash Back Credit Cards Have Never Been This Good
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. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
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
