- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- Egypt: IP (Feb)
- more updates...
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by Tom Moeller November 15, 2016
Total business inventories increased 0.1% during September (0.6% y/y) following an unrevised 0.2% August gain. Total business sales improved 0.7%, and were up 0.8% y/y. The inventory-to-sales ratio eased to 1.38, down sharply from 1.41 during Q1.
New data in this report showed that retail inventories rose 0.2% (3.9% y/y) following a 0.6% increase, revised from a 0.7%. The gain was powered by a 0.7% surge (9.0% y/y) in motor vehicle inventories. Excluding autos, retail inventories were little changed (1.4% y/y). Furniture inventories declined 0.6%, (-1.5% y/y). Building material inventories grew 0.1% (4.0% y/y), but clothing inventories eased 0.1% (+1.0% y/y). Food & beverage store inventories gained 0.2% (2.3% y/y), but general merchandise store inventories fell 0.6% (-2.7% y/y). As reported earlier, wholesale inventories rose 0.1% (-0.1% y/y) while factory inventories were little changed (-1.9% y/y).
Business sales increased 0.7% in September (0.8% y/y) after a 0.3% gain. Retail sales increased 1.0% (2.9% y/y) while factory sector shipments improved 0.8% (-0.6% y/y) after a 0.2% rise. Wholesales trade sales increased 0.2% (0.4% y/y) after a 0.7% rise.
The overall business inventory-to-sales ratio eased m/m to 1.38, but was stable versus one year earlier. The retail I/S ratio fell to 1.49, while the ratio excluding autos also eased to 1.26. The wholesale sector I/S ratio remained steady at 1.33, and it eased to 1.34 in the factory sector.
The manufacturing and trade data are in Haver's USECON database.
|Manufacturing & Trade||Sep||Aug||Jul||Sep Y/Y||2015||2014||2013|
|Business Inventories (% chg)||0.1||0.2||-0.0||0.6||1.3||3.7||3.9|
|Retail excl. Motor Vehicles||-0.0||0.3||-0.4||1.4||4.1||2.6||4.8|
|Business Sales (% chg)|
|Retail excl. Motor Vehicles||0.7||-0.1||-0.4||2.6||0.2||3.2||2.6|
|Retail excl. Motor Vehicles||1.26||1.27||1.27||1.28||1.27||1.24||1.23|