Inventories -0.1%, Last Month Revised Lower; Inventories-to-Sales Ratio Very Steep 1.41

by Mike ‘Mish’ Shedlock
Mish Talk

Inventories for February declined 0.1% but sales fell 0.4%.

The only reason the inventory-to-sales number did not rise further is January inventories were revised from +0.1% to -0.1%.

On the surface, the Bloomberg Econoday economists’ consensus estimate for inventories was right on the mark at -0.1% in a range of -0.2% to +0.2%.

However, revisions took January’s reading from +0.1% down to -0.1% so compared to the initial January reading, inventories are down -0.3% outside the range of estimates.

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