- 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 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|