(MENAFN) On Friday, July 16, the most recent report on US manufacturing and trade statistics showed that US business inventories for the month of May soared.
The US Department of Commerce report showed that producer and trade inventories, modified for seasonal variations but not for price changes, were expected to be at a month-end level of $ 2,039.3 billion, or an increase of 0.5% compared to last April. year, and increased by 4.5% compared to May of last year.
The combined value of distributive trade sales and manufacturers’ shipments for May, adjusted for seasonal variations and trading days but not for price changes, was projected to be $ 1,615.9 billion, a decrease by 0.3% compared to April this year and an increase of 28.7%. from May of last year.
The company-wide inventory-to-sales ratio anchored to seasonally adjusted data at the end of May stood at 1.26. The ratio for May 2020 was 1.55.
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