In terms of inventory statistics, the Census Bureau reported mixed results for April. Wholesale inventories, adjusted for seasonal fluctuations and trading day differences but not price changes, decreased slightly by 0.2 per cent to $914.9 billion from the previous month. However, when compared to the same month last year, wholesale inventories saw a rise of 6.2 per cent, the US Census Bureau said in a press release.
The Bureau also reported a slight increase in retail inventories for April. Adjusted for seasonal variations and trading day differences, but not price changes, retail inventories were estimated at $772.3 billion, marking a 0.2 per cent increase from March. Compared to April 2022, retail inventories saw a healthy growth of 7.7 per cent.
Fibre2Fashion News Desk (KD)