US business inventories for May 2020
- US business inventories for May 2020 fell -2.3%. That was in line with estimates
- total sales increased by 8.4% vs. -14.4% last month
- inventory to sales ratio fell to 1.51 vs. 1.67 last month
- prior month revised to -1.4% from -1.3% previously reported
- manufacturing inventories +0.2% vs. -0.5% in April
- retail inventories -6.2% vs. -3.8% in April
- ex auto -1.6 vs. -1.2 in April
- auto and parts -14.9% vs. -3.4% last month
- general merchandise -0.4% vs. -2.9% last month
- wholesalers -1.2% vs. 0.2% last month
The inventories fell as retailers reacted to the coronavirus and total sales rebounded from the April plunge. Nevertheless, the data is old news.
