- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Sandy Batten June 14, 2016
Total business inventories inched up 0.1% m/m (1.0% y/y) in April following a 0.3% m/m increase in March (revised down from 0.4% m/m). Total business sales jumped 0.9% m/m (-1.3% y/y) in April after a 0.2% m/m rise in March (revised from 0.3%). The April sales increase was the largest monthly gain since February 2014.
The new information in today's release was for retail inventories. Manufacturing and wholesale inventories had already been reported. Manufacturing inventories were down 0.1% in April (their tenth consecutive monthly decline) while wholesale inventories were up 0.6% m/m, their second consecutive monthly increase following five consecutive monthly declines.
Retail inventories unexpectedly slipped 0.1% m/m in April after having posted gains in each of the ten preceding months. Recent increases had been substantial-0.9% m/m in March and 0.7% m/m in February. In April, retail inventories excluding motor vehicles and parts fell 0.2% m/m with widespread declines across major categories. Furniture inventories fell 0.5% m/m. Building materials inventories were down 0.2% m/m. And inventories of general merchandise stores declined 0.5% m/m.
Sales were up across all sectors in April. Retail sales jumped 1.4% m/m (up 0.9% m/m when motor vehicles are excluded). Wholesale sales climbed 1.0% m/m in April, their second consecutive significant increase after four consecutive monthly declines. Manufacturing sales were up 0.5% m/m in April, their second consecutive monthly increase following three consecutive monthly declines.
The inventory-to-sales ratio in the business sector edged down to 1.40 in April from 1.41 in February and March. The February/March reading had been the highest since the economy exited recession in 2009. Inventory-to-sales ratios also retreated slightly in each of the individual sectors-again from levels that were the highest in the current economic expansion.
The manufacturing and trade data are in Haver's USECON database.
|Manufacturing & Trade||Apr||Mar||Feb||Apr Y/Y||2015||2014||2013|
|Business Inventories (% chg)||0.1||0.3||-0.1||1.0||1.3||3.7||3.9|
|Retail excl. Motor Vehicles||-0.2||0.1||0.2||2.8||4.1||2.6||4.8|
|Business Sales (% chg)|
|Retail excl. Motor Vehicles||0.9||0.5||-0.1||2.5||0.2||3.2||2.6|
|Retail excl. Motor Vehicles||1.28||1.29||1.30||1.27||1.27||1.24||1.23|