2018 Economic Calendar
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Business Inventories  
Released On 6/14/2018 10:00:00 AM For Apr, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Inventories - M/M change0.0 %-0.1 %0.3 %0.2 % to 0.5 %0.3 %

Business inventories rose an as-expected 0.3 percent in April led by a 0.5 percent build at retailers and including respective gains of 0.3 percent and 0.1 percent for manufacturers and wholesalers. At a year-on-year build of 4.4 percent, total inventories look lean compared to underlying sales which are up 6.7 percent in a mismatch that points to restocking and with it a benefit to GDP not to mention gains for production and employment as well. Fed Chair Jerome Powell said yesterday that the economy is in "great shape" and inventories are part of the success story.

Consensus Outlook
A healthy 0.3 percent rise is the consensus for April business inventories, a build that would be in line if not too low compared to underlying sales which have been growing at a faster rate than inventories. An unexpected reading in this report, whether high or low, could affect expectations for second-quarter GDP.

Business inventories are the dollar amount of inventories held by manufacturers, wholesalers, and retailers. The level of inventories in relation to sales is an important indicator of the near-term direction of production activity.  Why Investors Care
Inventories tend to rise when economic conditions are strong since sales are rising at the same time, the inventory-to- sales ratio may remain stable, or rise at a very slow pace. Inventories tend to when economic conditions are weak since sales are falling at the same time, the inventory-to-sales ratio may remain relatively stable. The I- S ratio then begins to rise as sales fall more quickly than inventory growth.
Data Source: Haver Analytics

2018 Release Schedule
Released On: 1/122/143/144/165/156/147/168/159/1410/1511/1512/14
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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