FXstreet.com (Barcelona) - Manufacturing and trade inventories have risen slightly above expectations in January and so have done business sales, thus the inventory to sales ratio has decreased on the month according to data released by the Commerce Department.
Business inventories have increased 0.8% in January, when the market consensus advanced a o.7% rise. December's reading has been revised up to m0.7% from the initial 0.6% reading. On the year, business inventories have grown 4.8%.
Sales have risen 1.5% following a 0.6% decrease on the previous month. Over the last twelve months to January, business sales have gone 8.6% up.
As a result, the inventory to sales ratio, which measures the amount of months it would take to empty inventories at the current sales pace, has decreased to 1.25, from 1,26 in December, and down from 1,30 in January 2007.