Wholesale inventories rose 0.2% in March, according to Commerce Department data (released Tuesday). This was above the preliminary reading of a 0.1% decline. The inventory-to-sales ratio remained steady at 1.28 in March, down from 1.35 in the same period a year earlier.
There were 5.74 million job openings, the Labor Department said Tuesday, the same number as previously reported in February Economists had forecast 5.73 million openings.
The U.S. central bank should continue gradually raising short-term interest rates despite some economic indicators, like car sales, flashing “yellow,” said Kansas City Federal Reserve President Esther George. Among the cautionary areas, auto sales are down from last year’s record pace, and first quarter GDP growth was up only 7/10% annual rate. But other indicators remain strong, like consumer sentiment,and household balance sheets are healthy, she noted.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
