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2009 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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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
| Released on 8/11/05 For Jun 2005 | ||||||||||
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Highlights
Business inventories were unchanged in June while business sales, swollen by autos, rose 0.7% -- pushing the inventory-to-sales ratio down to a very lean 1.29.
Retailer inventories, the new data set in the day's report, were down 0.4%. Inventories at auto dealers fell a very sharp 2.4% and are likely to fall again in the July data as incentives swept dealer lots clear. Excluding cars, retail inventories were up 0.6%.
How much of the inventory drawdown at dealers will auto-makers replenish? Incentives are leading to a series of economic imbalances, which are just beginning to play out.
Business inventories were unchanged in May. In June, manufacturers' inventories were unchanged after dipping 0.2 percent in May. Wholesale and retail trade inventories were a bit stronger than manufacturing in May.
Business inventories Consensus Forecast for June 05: 0.1 percent
Range: -0.2 to 0.3 percent
![[Chart]](chart.gif)
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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 drop 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. |
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