MAY BUSINESS INVENTORIES UP 0.3%, SALES UP 0.8%
Business inventories rose 0.3% in May, from an unrevised reading of 0.5% in April, and were lower than the 0.5% increase expected. Sales increased 0.8% in May following a 1.5% increase in April. Sales in May were up 4% on an unadjusted basis and are up 6.6% year-over-year on an adjusted basis.
The inventory-to-sales ratio in May was 1.24, down from 1.25 in April.
Retail inventories fell 0.2% in May, following a 0.2% increase in April, and are up 1.5% on a year-over-year basis.
Furniture, home furnishings, electronic and appliance store inventories fell 0.7% in May following a 1.2% increase in April. Motor vehicle and parts dealer inventories fell 0.6% in May following a 0.5% decrease in April.
Building materials, garden equipment and supplies sales rose 2.3% in May following a 2.2% increase in April. General merchandise store sales grew 1.3% in May after a 0.7% increase in April.