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US business inventories up by 0.3% in May
Business inventories in the United States increased by 0.3% in May compared to the month before, and reached $2,736.2 billion, the US Census Bureau revealed in its report on Thursday. On an annual basis, the figure rose by 3.1%. The combined value of trade sales and manufacturers' shipments landed at $2,135.0 billion in the reported month, climbing by 2.1% month-over-month and by 11.9% year-over-year. The total ratio of business inventories to sales stood at 1.28 at the end of May, based on seasonally adjusted data, down from last year's ratio of 1.39.
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