The U.S. Census Bureau’s manufacturing and trade statistics report finds business inventories rose as expected by 0.3%, with sales fueling restocking that will bode well for gross domestic product (GDP).
Sales
The combined value of distributive trade sales and manufacturers’ shipments for April, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,425.9 billion, up 0.4% (±0.1%) from March 2018 and was up 6.7% (±1.1 percent) from April 2017.
Inventories
Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,930.0 billion, up 0.3% (±0.1%) from March 2018 and were up 4.4% (±1.3%) from April 2017.
Inventories/Sales Ratio
The total business inventories/sales ratio based on seasonally adjusted data at the end of April was 1.35. The April 2017 ratio was 1.38.
