- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller August 12, 2016
Total business inventories edged 0.2% higher (0.5% y/y) during June following an unrevised 0.2% increase in May. Total business sales strengthened 1.2% (-0.6% y/y) after a 0.3% rise, revised from 0.2%.
Retail inventories rose 0.5% (5.5% y/y) for a second consecutive month. Inventories excluding motor vehicles and parts rose 0.2% m/m (2.9% y/y) after a 0.3% rise. Motor vehicle & parts inventories inventories increased 0.9% (10.9% y/y) and have been strengthening all year. Food & beverage store inventories increased 0.7% (3.1% y/y), but gains elsewhere in the retail sector have been declining or minimal. Merchant wholesale inventories increased 0.3%, as reported earlier this weak, and factory sector inventories eased 0.1%, also as reported earlier.
Total business sales jumped 1.2%, but remained down 0.6% y/y. Sales were strong across sectors. Wholesale sector sales strengthened 1.9% (-0.4% y/y) after two firm monthly increases. Retail sales increased 0.9% (2.6% y/y), as already reported. Sales excluding autos jumped 1.0% (2.9% y/y) on the strength of building material sales. Factory sector shipments improved 0.7%, but they were down 3.5% y/y.
The inventory to sales ratio eased to 1.39, its lowest level since November. The retail sector ratio held steady at 1.50. The I/S ratio excluding autos, however, declined to 1.27, its lowest level since August. Inventory control in the durable goods sector, outside of autos, has been notable. The I/S ratio in the soft goods area, however, has been rising. Merchant wholesalers have been lowering their I/S ratio, as have manufacturers.
The manufacturing and trade data are in Haver's USECON database.
|Manufacturing & Trade||Jun||May||Apr||Jun Y/Y||2015||2014||2013|
|Business Inventories (% chg)||0.2||0.2||0.1||0.5||1.3||3.7||3.9|
|Retail excl. Motor Vehicles||0.2||0.3||-0.2||2.9||4.1||2.6||4.8|
|Business Sales (% chg)|
|Retail excl. Motor Vehicles||1.0||0.2||1.0||2.9||0.2||3.2||2.6|
|Retail excl. Motor Vehicles||1.27||1.28||1.28||1.27||1.27||1.24||1.23|