Business Inventories-To-Sales Ratio Jumps To Highest Since Nov '16 As Auto Inventories Spike

Once again motor vehicles dominated the rise in inventories in June (up 0.7% MoM) as retail inventories rose 0.6% MoM but sales lagged at just 0.3%. This mismatch pushed the aggregate inventory-to-sales ratio back to its highest since Nov 2016 at 1.38 months.

 

But it's autos that remain near ex-crisis highs in inventories...