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US business inventories stabilises in March

US business inventories stabilises in March

Mubasher: US business inventories barely saw a change during March at $2.018 trillion on a seasonally adjusted basis, the US Commerce Department’s Census Bureau said on Wednesday.

However, on an annualised basis, business inventories climbed by 5% last March.

The collective value of distributive trade sales and manufacturers’ shipments jumped 1.6% to $1.470 trillion.

The ratio of overall inventories to sales in March was 1.37, easing from 1.39 in February, while it came slightly higher than the ratio of 1.36 in the same month of the previous year.

By 2:03 pm GMT, the US dollar index, which gauges the greenback against a basket of six major rivals, rose 0.18% to 97.69.