Wholesale Trade Posts Another Gain in April
ThinkstockThe only economic report on Tuesday is the report on wholesale trade, which is a figure for April. Inventories were up by 0.2% to $504.8 billion for the month, matching the Bloomberg and Dow Jones consensus estimates of 0.2%. The…
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The only economic report on Tuesday is the report on wholesale trade, which is a figure for April. Inventories were up by 0.2% to $504.8 billion for the month, matching the Bloomberg and Dow Jones consensus estimates of 0.2%. The move follows a rise of 0.4% in March. While this is an official economic report, it will have very little (if any) market impact.
The Census Bureau issued the sales data showing a gain of 0.5% to $416.6 billion. The durable goods for the month were up 1.6% from the prior month and up 4.2% from a year earlier. Nondurable goods sales were down by 0.5% from March and down 2.2% from a year earlier. Petroleum and petroleum products were down 2.7% from the prior month.
Wholesale trade measures the dollar value of sales made and inventories held by merchant wholesalers. It is a component of all business sales and inventories, and the Census showed that the inventories/sales ratio for merchant wholesalers was 1.21, versus 1.17 a year earlier and 1.21 in March.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
