Economic Buzz: US Business Inventories Jump 1.2% In April

16 Jun 2022 , 10:00 AM

A report released by the Commerce Department showed U.S. business inventories increased in line with economist estimates in the month of April. Business inventories jumped by 1.2 percent in April after spiking by 2.4 percent in March. The report showed wholesale inventories shot up by 2.2 percent, while retail and manufacturing inventories climbed by 0.7 percent and 0.6 percent, respectively. Meanwhile, the Commerce Department said business sales rose by 0.4 percent in April after jumping by 1.6 percent in March. Manufacturing sales edged up by 0.2 percent, while retail and wholesale sales increased by 0.5 percent and 0.7 percent, respectively. With inventories increasing by more than sales, the total business inventories/sales ratio ticked up to 1.29 in April from 1.28 in March.Powered by Commodity Insights