7/16, 4:00 PM (Source: TeleTrader)
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US business inventories down 2.3% in May

Inventories in the manufacturing and trade sectors in the United States decreased by 2.3% in May compared to the previous month to stand at $1.98 trillion, according to a report by the US Census Bureau released on Thursday.

The combined value of distributive trade sales and manufacturers' shipments for May, adjusted for seasonal and trading-day differences was estimated at $1.284 trillion, growing 8.4% from April but falling by 11.8% year-over-year.

The ratio between business inventories and sales was 1.51 at the end of May, up from 1.40 recorded in May 2019.

Breaking the News / TF