US: Expect a solid increase in business inventories - Nomura

Analysts at Nomura expect a solid m-o-m increase in US business inventories in May based on the Census Bureau’s advance estimates on manufacturing, wholesale, and retail inventories.

Key Quotes

“We expect private inventory accumulation to contribute modestly to real GDP growth in Q2 after being a drag in the previous two quarters. The gains in wholesale inventories were solid in May while manufacturing and retail inventories increased at a steady pace.”