Is it any wonder why the moonbats are concentrating on Guantanamo, the Christian right and other nonsense. Their usually reliable trump card (economy) is working against them.
Sales rose 1.5% in April, the biggest gain in 13 months. Meanwhile, inventories increased 0.8%. The inventory-to-sales ratio fell to 1.18 from 1.19. The record low was 1.14 in April 2004.
"The decline in the I/S [inventory-sales] ratio is a positive development," said Aaron Smith, an economist for Economy.com. "Undesired stockpiling pushed the I/S ratio higher in the first quarter. The reversal in April reflects rising sales and the subsequent realignment of stockpiles."
With inventories stronger than expected, first-quarter GDP will likely be revised to 3.8% from the earlier estimate of 3.5%, said Action Economics.