2017 Economic Calendar
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Business Inventories  
Released On 5/12/2017 10:00:00 AM For Mar, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Inventories - M/M change0.3 %0.2 %0.1 %0.1 % to 0.2 %0.2 %

Business inventories rose 0.2 percent in March which is 1 tenth above consensus though February is revised 1 tenth lower, also at a 0.2 percent build. Retailer inventories rose 0.5 percent in March in a sizable build swollen by auto dealers where inventories surged 0.9 percent. Other components show a gain of 0.2 percent for wholesalers and no change for manufacturers. Business sales were weak, unchanged in March but not enough to lift the inventory-to-sales ratio which held steady at a still healthy 1.35.

The build at auto dealers should be relieved in April based on this morning's solid vehicle gain in the retail sales report. Businesses are doing a good job of keeping inventories to a minimum during a time of slow economic growth.

Consensus Outlook
Inventories were well behaved in the first quarter, rising only modestly after building sharply in the fourth quarter. Business inventories are expected to inch 0.1 percent higher in March, roughly in line with sales which are also likely to prove modest in the month. Steady inventory management helps limit the risk of unwanted overhang.

Business inventories are the dollar amount of inventories held by manufacturers, wholesalers, and retailers. The level of inventories in relation to sales is an important indicator of the near-term direction of production activity.  Why Investors Care
Inventories tend to rise when economic conditions are strong since sales are rising at the same time, the inventory-to- sales ratio may remain stable, or rise at a very slow pace. Inventories tend to when economic conditions are weak since sales are falling at the same time, the inventory-to-sales ratio may remain relatively stable. The I- S ratio then begins to rise as sales fall more quickly than inventory growth.
Data Source: Haver Analytics

2017 Release Schedule
Released On: 1/132/153/154/145/126/147/148/159/1510/1311/1512/14
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