Global| May 15 2020

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Summary

• • • Total business inventories fell 0.4% m/m (-0.1% y/y) in February.......... Sales at retail stores (excluding sales of food services) fell 0.5% m/m in February ...... The manufacturing and trade data are in Haver's USECON [...]

•

Total business inventories fell 0.4% m/m (-0.1% y/y) in February.......... Sales at retail stores (excluding sales of food services) fell 0.5% m/m in February ......

The manufacturing and trade data are in Haver's USECON database.

Manufacturing & Trade	Mar	Feb	Jan	Mar Y/Y	2019	2018	2017
Business Inventories (% chg)	-0.4	-0.3	0.1	-0.1	2.1	5.1	3.4
Retail	-0.3	-0.1	-0.1	-0.6	1.0	4.5	2.3
Retail excl. Motor Vehicles	0.0	0.3	0.0	1.1	1.9	1.8	2.0
Merchant Wholesalers	-0.7	-0.6	0.0	-1.3	2.0	7.3	3.3
Manufacturing	-0.4	-0.3	0.4	1.6	3.1	3.5	4.5
Business Sales (% chg)
Total	-0.5	0.5	0.0	1.4	1.5	6.1	5.4
Retail	-0.5	0.7	-0.1	4.5	3.4	4.6	4.5
Retail excl. Motor Vehicle	-0.5	0.7	0.4	4.1	3.2	5.3	4.8
Merchant Wholesalers	-0.8	1.3	-0.4	1.1	0.7	6.7	6.7
Manufacturing	-0.2	-0.6	0.5	-1.1	0.7	6.9	5.0
I/S Ratio
Total	1.37	1.37	1.39	1.39	1.40	1.36	1.38
Retail	1.42	1.42	1.43	1.49	1.45	1.45	1.47
Retail excl. Motor Vehicles	1.18	1.18	1.18	1.22	1.19	1.20	1.24
Merchant Wholesalers	1.31	1.31	1.33	1.34	1.35	1.29	1.30
Manufacturing	1.40	1.40	1.40	1.36	1.38	1.35	1.37

Carol Stone, CBE
Author
Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
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