Friday, September 14, 2018
Business Inventories Start Strong For 3rd Quarter
Business inventories start the third-quarter very strong, rising 0.6
percent in July following only a 0.1 percent build in June. Inventories
at manufacturers rose 0.8 percent with strong builds also posted by
wholesalers and retailers. Inventories are beginning to catch up with
underlying sales which rose only 0.2 percent in July though the
year-on-year spread is still out of balance, at 4.3 percent for
inventories vs 8.1 percent for sales. The need to build inventories
looks to be a major positive for GDP and a major positive for production
and employment.
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