Business Inventories in U.S. Increased in April as Sales Cooled |
| BusinessWeek - Jun 13, 2012 |
Companies in the U.S. boosted inventories in April as sales cooled, indicating orders to factories may slow.
The 0.4 percent increase in stockpiles followed a 0.3 percent gain in March, Commerce Department data showed today in Washington. The median projection in a Bloomberg News survey predicted a 0.3 percent advance. Sales climbed 0.2 percent for a second month.
Some of the increase in inventories may be unintended as demand in the world’s largest economy slows, signaling companies will place fewer orders. Another report today showed retail sales dropped in May for a second month, the first back-to-back decrease since 2010.
“Retail sales are going to continue to grow sluggishly, and the inventories are going to grow sluggishly,” Michael Montgomery, a U.S. economist with IHS Global Insight in Lexington, Massachusetts, said before the report. At the same time, “inventories compared to sales are in fantastic shape.”
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- Posted: 2012-06-13 13:14:11
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