The Commerce
Department announced on Tuesday that the U.S. business remained unchanged m-o-m in April, following an unrevised
0.1 per cent m-o-m gain in March. This was in line with economists’ expectations and
represented the worst monthly performance in business inventories so far this
year.
According to
the report, stocks at
merchant wholesalers increased by 0.2 per cent m-o-m in April, while inventories
at manufacturers fell by 0.1 per cent m-o-m and those at retailers were
unchanged.
In y-o-y terms,
business inventories rose by 2.2 per cent in April.