Wednesday, June 08, 2005

April wholesale sales best in 13 months

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 "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.

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