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Saturday, July 20, 2024
HomeNewsEconomyBusiness Inventories Edge Out Forecast, Positive Start for Q3 GDP

Business Inventories Edge Out Forecast, Positive Start for Q3 GDP

Wholesale inventories concept depicting by employees having short meeting in the warehouse to check levels of business inventories. First in first out. (Photo: AdobeStock)

Sales Pickup Pace, Pointing to Needed Build in Business Inventories

The U.S. Census Bureau reported business inventories gained 0.4% (±0.1%) to $2,042.6 billion in July, edging out the forecast in a positive sign for third-quarter (Q3) gross domestic product (GDP). Inventories were up 4.8% (±0.4%) from July 2018.

Forecasts for July ranged from a low of 0.1% to a high of 0.4%. The consensus forecast was 0.3%. Estimates are adjusted for seasonal variations but not for price changes.

Business sales were estimated at $1,462.9 billion, up 0.3% (±0.1%) in July from June and 1.3% (±0.3%) from July 2018.

The total business inventories/sales ratio based on seasonally adjusted data at the end of July was 1.40. The July 2018 ratio was 1.35.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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