April Business Inventories Preview
April business inventories are forecast to rise 0.4% after a 0.1% increase the prior month. Sales are seen unchanged, versus a 1% rise in March, putting the Inventory-to-Sales ratio at 1.27, up from 1.26.
The range of forecasts for inventories is down 0.2% to up 0.6%, though the vast majority of analysts predict a positive change.
The only new data provided in the April Business Inventories report will be an expected 0.1% decline in retail sales inventories, as a result of the auto-parts strikes that have hit several GM factories. Retail inventories fell 0.5% in March.
Other data recently published, which may impact the Business Inventories data:
* April Factory Orders shipments were up 1.1% and inventories were unchanged
* April Wholesale Sales rose 1.4% and inventories were up 1.3%
* April Retail Sales fell 0.2%