U.S. business inventories drop more than expected

📆 2020-06-17 오전 4:28:00

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U.S. business inventories fell more than expected in April as the COVID-19 crisis depressed imports, suggesting inventory investment could again be a drag on economic output in the second quarter.

FILE PHOTO: A cyclist rides through the nearly empty financial district amid the coronavirus disease outbreak, in Boston, Massachusetts, U.S., May 12, 2020. REUTERS/Brian Snyder

Motor vehicle inventories dived 8.4% rather than 8.3% as previously reported. Retail inventories excluding autos, which go into the calculation of GDP, fell 1.1% as reported last month.

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Duh. Idiots. Any study of history and you knew this was going to happen.

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