By Ed Frankl
U.S. business inventories rose a little in April, according to data published Tuesday.
Inventories climbed 0.3% on month, adjusted Commerce Department figures showed, in line with a consensus of economists polled by The Wall Street Journal. The result more than offset the 0.1% fall in March.
The ratio of inventories to sales, a guide to how many months it would take for businesses to clear their inventories at the current sales rate, held at 1.37 in April, the same as March. For manufacturers, the ratio fell slightly to 1.45 from 1.47 last month, suggesting production could lightly pick up in the struggling sector in the months ahead. However, the ratio rose slightly for retailers.
Overall, inventories edged up 0.1% for manufacturers, climbed 0.7% for retailers, while increased 0.1% at merchant wholesalers.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
06-18-24 1034ET
