Business inventories rise 0.4% in March
Inventory-to-sales ratio remains at seven-year high
This is the largest increase since last June and above economist’s expectations of a 0.2% gain.
Business sales rose 0.3% in March.
One new piece of information was retail inventories, which jumped 1% in March compared with a 0.3% drop in sales. Excluding autos, retail inventories rose 0.4%.
The inventory-to-sales ratio for retailers, rose to 1.52 in March from 1.50 in February.
Some of this boost in inventories may be reduced by the stronger-than-expected gain in retail sales for April.
Earlier in Friday the government reported that retail sales jumped in April.
Read: Retail sales leap 1.3%, biggest gain in year