US business inventories for June 0.1% vs. 0.1% exp.

Business Inventory data for June 2018

US business inventories June came in at 0.1% versus 0.1% expectations.

• prior month was revised to +0.3% from +0.4%
• US June business sales rose 0.3% versus May +1.3% (revised from +1.4%)
• US June retail inventories ex autos revised 0.2% from +0.3%
• US June inventory/ sales ratio 1.33 months worth verse May 1.34 months
• retail inventories for June rose 0.1% versus 0.0% reported last month. Retail inventories in may increase 0.4%

There was an outright inventory liquidation in the 2nd quarter as inventories subtracted 1.0% from GDP in the quarter.