Updated: 09-May-19 10:15 ET
|Updated: 09-May-19 10:15 ET
- Wholesale inventories declined 0.1% in March (Briefing.com consensus +0.1%) on top of an upwardly revised 0.4% increase (from 0.2%) in February.
- Wholesale sales jumped 2.3% following an unrevised 0.3% increase in February.
- On a year-over-year basis, total sales were up 3.9% while total inventories were up 6.7%.
- Durable inventories increased 0.3% in March, driven by a 1.2% increase in machinery inventories and a 1.0% increase in metals inventories. Automotive inventories declined 0.9%.
- Nondurable inventories declined 0.6% in March, having been restrained by a 3.2% decline in drugs inventories and a 1.2% decline in miscellaneous nondurable inventories.
- The inventories-to-sales ratio fell to 1.32 from 1.35 in February, but it was still higher than the 1.29 ratio in the same period a year ago.
- The key takeaway from the report is that inventory growth continues to outpace sales growth on a year-over-year basis, which should help keep price pressures in check.