- US business inventories 1.4% vs. 1.3% estimate. Prior month revised to 1.3% from 1.2%
- retail inventories ex auto 0.8% vs. 1.7% last month
- U.S. total business end-of-month inventories for May 2022 were $2,381.9 billion,
- U.S. total business sales were $1,829.1 billion, up 0.7 percent (+/- 0.2 percent) from last month.
- The total business inventories/sales ratio came in at 1.3 up from 1.27 last month
Inventories increased and sales data as well. Nevertheless the total inventory to sales ratio did move up to 1.30 from 1.27 last month. That takes the ratio back into the range that prevailed between 2014 and 2020 with 1.29 near the low at 1.45 near the high. That may be good news for inflation as inventories are replenished.