Retail Inventories Rise, Wholesale Inventories Flat

Retail inventories open the second-quarter with strength, rising 0.6 percent in April to nearly reverse a revised 0.7 percent draw in March. Vehicles are not distorting the results with April inventories here also up 0.6 percent. Retail sales in April proved moderate which hints perhaps at a slowing build for retail inventories in May.

...meanwhile...

Wholesale inventories in April won't be contributing to second-quarter GDP, coming in unchanged following a 0.2 percent build in March. But apart from GDP, low inventories are generally a plus and point to the need for restocking and related production and employment.