{"id":128395,"date":"2022-07-19T13:43:25","date_gmt":"2022-07-19T13:43:25","guid":{"rendered":"https:\/\/fin2me.com\/?p=128395"},"modified":"2022-07-19T13:43:25","modified_gmt":"2022-07-19T13:43:25","slug":"u-s-business-inventories-jump-more-than-expected-in-may","status":"publish","type":"post","link":"https:\/\/fin2me.com\/economy\/u-s-business-inventories-jump-more-than-expected-in-may\/","title":{"rendered":"U.S. Business Inventories Jump More Than Expected In May"},"content":{"rendered":"

Business inventories in the U.S. increased by more than expected in the month of May, according to a report released by the Commerce Department on Friday.<\/p>\n

The report showed business<\/span> inventories shot up by 1.4 percent in May after surging by an upwardly revised 1.3 percent in April.<\/p>\n

Economists had expected business inventories to jump by 1.2 percent, matching the advance originally reported for the previous month.<\/p>\n

Wholesale inventories spiked by 1.8 percent during the month, while manufacturing and retail inventories shot up by 1.3 percent and 1.1 percent, respectively.<\/p>\n

“Businesses face an arduous task as they manage their inventories in a difficult economic environment of cooling goods demand, persistent supply chain constraints, elevated inflation and higher interest rates,” said Oren Klachkin, Lead U.S. Economist at Oxford Economics.<\/p>\n

“We expect inventories to continue marching higher, though the pace of gains will slow,” he added. “The economy<\/span> is not in a recession currently but aggressive and front-loaded Fed rate hikes increase the chances of a hard landing, especially for 2023.”<\/p>\n

Meanwhile, the Commerce Department said business sales climbed by 0.7 percent in May after rising by 0.6 percent in April.<\/p>\n

Manufacturing sales led the way higher, surging by 1.8 percent. Wholesale sales also rose by 0.5 percent, while retail sales fell by 0.3 percent.<\/p>\n

With inventories increasing by more than sales, the total business inventories\/sales ratio crept up to 1.30 in May from 1.29 in April. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Business inventories in the U.S. increased by more than expected in the month of May, according to a report released by the Commerce Department on […]<\/p>\n","protected":false},"author":3,"featured_media":128394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\nU.S. Business Inventories Jump More Than Expected In May - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/economy\/u-s-business-inventories-jump-more-than-expected-in-may\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Business Inventories Jump More Than Expected In May - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Business inventories in the U.S. increased by more than expected in the month of May, according to a report released by the Commerce Department on [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/economy\/u-s-business-inventories-jump-more-than-expected-in-may\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-19T13:43:25+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2022\/07\/U.S.-Business-Inventories-Jump-More-Than-Expected-In-May-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/economy\/u-s-business-inventories-jump-more-than-expected-in-may\/\",\"url\":\"https:\/\/fin2me.com\/economy\/u-s-business-inventories-jump-more-than-expected-in-may\/\",\"name\":\"U.S. Business Inventories Jump More Than Expected In May - 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