The U.S. Commerce Department released the business inventories data on Thursday. The U.S. business inventories rose 0.4% in April, beating expectations for a 0.2% increase, after a 0.1% gain in March.
The increase was driven by a rise in retail inventories. Retail inventories climbed 0.8% in April.
Business sales climbed 0.6% in April.
The business inventories/sales ratio remained unchanged at 1.36 months in April. The business inventories /sales ratio is a measure of how long it would take to clear shelves.