Business Inventories increased by 0.1% in May to $1, 355.7 billion, lower than the consensus estimate of a 0.2% increase. Business inventories had increased by 0.4% in April, and currently stand 1.5% less than May 2009 levels. The inventories/sales ratio was 1.24 at the end of May, compared to 1.41 recorded a year ago.
Crude inventories decreased by 5.1 million barrels, for the week ending July 9, from the previous week to 353.1 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 15.5 million barrels per day during this period, 241 thousand barrels per day above the previous week’s average. U.S. crude oil imports were averaging 9.3 million barrels per day, down 132 thousand barrels per day from the previous week.
Initial Claims (07/15 at 8:30 AM EST)
PPI (07/15 at 8:30 AM EST)
Industrial Production (07/15 at 9:15 AM EST)
