- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Sandy Batten January 13, 2017
Total business inventories increased 0.7% m/m (1.5% y/y) in November following a 0.1% m/m decline (originally reported as -0.2% m/m) in October. This rise was generally in line with market expectations, which looked for a 0.6% m/m increase. In contrast, business sales edged up 0.1% m/m (2.3% y/y) in November versus a 0.7% m/m increased (revised from +0.8% m/m) in October.
New data in this report showed that retail inventories surged 1.0% m/m (4.0% y/y) in November after having declined 0.4% m/m (not revised) in October and being unchanged in September. The November jump was the largest monthly gain since September 2015 and was led by gains in inventories of motor vehicles and parts (+1.9% m/m), and of building materials (1.2% m/m). Wholesale inventories also posted a 1.0% m/m (1.4% y/y) increase in November with the initially reported 0.4% m/m decline for October revised up to a 0.1% m/m decrease. Factory inventories gained 0.2% m/m (-0.7% y/y) in November after a 0.1% m/m rise (revised from unchanged) in October.
The meager increase in business sales in November reflected generally tepid performance across the stages of production. Retail sales were unchanged in November from October. Manufacturing shipments slipped 0.1% m/m. Wholesale sales showed the most life, rising 0.4% m/m in November, but this was down from a 1.1% m/m gain in October.
The overall business inventory-to-sales ratio edged up to 1.38 in November from 1.37 in October, the first rise in 2016 after having trended down throughout last year. The retail I/S ratio also edged up to 1.48 in November from 1.47, as did the ratio excluding autos-to 1.26 from 1.25. The wholesale sector I/S ratio rose to 1.32 from an upwardly revised 1.31 in October, while the manufacturing I/S ratio was unchanged at 1.34, remaining at its lowest level since December 2014.
The manufacturing and trade data are in Haver's USECON database.
|Manufacturing & Trade||Nov||Oct||Sep||Nov Y/Y||2015||2014||2013|
|Business Inventories (% chg)||0.7||-0.1||0.0||1.5||1.3||3.7||3.9|
|Retail excl. Motor Vehicles||0.5||-0.2||-0.1||1.2||4.1||2.6||4.8|
|Business Sales (% chg)|
|Retail excl. Motor Vehicles||0.1||0.8||0.8||3.5||0.2||3.2||2.6|
|Retail excl. Motor Vehicles||1.26||1.25||1.26||1.29||1.27||1.24||1.23|