US Business Inventories Jump 1.1% in January

Money bag, forklift with boxes and red arrow up. Growth of performance production of goods

US business inventories rose strongly in January, though the rate slowed from previous months could lead to inventory investment making no impact on economic growth in Q1.

Source: US Census Bureau

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Business inventories increased by 1.1% after expanding by 2.4% in December. Inventories are a key element of gross domestic product. January’s increase is in line with economists’ estimates.

Retail inventories rose 2.0% in January rather than 1.9%, as estimated in an advanced report published last month. That followed a 4.7% surge in December.

Motor vehicle inventories jumped 2.4% as the estimated prior month. They grew 6.9% in December. Retail inventories, excluding autos, rose by 1.8% compared to the 1.7% estimated the previous month.

Inventory investment expanded at a robust seasonally adjusted annualized pace of $171.2B in Q4, leading to 4.90 percentage points to the quarter’s 7.0% growth rate.


US Retail Sales Growth Eases to 0.3% in February on High Inflation, Rising Gasoline Prices

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