May US business inventories +0.5% vs +0.5% expected

May US business inventory data

• Prior was -0.2% (revised to +0.1%)
• Retail inventories ex autos +0.9%
• Inventory to sales ratio at 1.26 vs 1.25 prior

This is a low-tier indicator but is a big factor in GDP. It's going to take a long time to rebuild inventories after the pandemic.