WASHINGTON — U.S. wholesale businesses restocked faster in April, responding to a strong gain in sales. The increase could be a good sign for economic growth in the April-June quarter.
The Commerce Department says stockpiles grew 0.6 percent at the wholesale level in April, double the March gain. Sales by wholesale businesses jumped 1.1 percent in April, nearly three times the March sales gain.
Stockpiles at the wholesale level stood at $483.5 billion in April. That's 25.6 percent above the post-recession low of $384.9 billion in September 2009.
It would take roughly five weeks to exhaust all wholesale stockpiles at the April sales pace. That's considered a healthy time frame and suggests businesses will keep restocking to meet demand.
When businesses step up restocking, they order more goods. That generally leads to increased factory production and higher economic growth.
Slower growth in inventories held back growth in the January-March quarter. In the first three months of this year, the economy grew at an annual rate of 1.9 percent.
The increase in wholesale inventories was bigger than economists had forecast. That could signal that inventory growth will pick up and boost economic growth in the April-June quarter.
But stockpile growth largely depends on the spending habits of U.S. consumers and businesses.
Weaker job creation in April and May could force some to scale back spending. And pay has risen just 1.7 percent over the past 12 months. That's slower than the rate of inflation for that period.
Sluggish job growth and weak pay raises threaten to drag on consumer spending, which would weaken growth. Consumer spending accounts for 70 percent of economic activity.
One positive change: Gas prices have tumbled since early April. That could give Americans more money to spend on appliances, vacations and other discretionary purchases.
Many businesses cut back on restocking last summer fearing that the economy was on the verge of another recession. When it became clear that it wasn't, they raced to rebuild stockpiles and keep pace with consumer demand.
Stockpiles at the wholesale level account for about 27 percent of total business inventories. Stockpiles held by retailers make up about one-third of the total. Manufacturing inventories represent about 40 percent of the total.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
West Cumbria shopping arcade all set for go-ahead - News and Star
Last updated at 15:26, Friday, 08 June 2012
Plans for a shopping arcade which would create 30 jobs in Cockermouth town centre look set to be approved next week.
Cockermouth town council snubbed plans to build the arcade of shops, offices and a cafe in Station Street when they met last week.
But Allerdale Council’s development panel members are being recommended to approve the proposal, by Mitchells, when they meet on Tuesday.
Mitchells wants to transform Tithe House, which housed the former JobCentre, into the arcade, but town councillors say that empty shops on Main Street should be filled first.
Five letters of objections have been submitted to the council, with concerns over the access to the centre being dangerous, competition to other town businesses and the fact that there are empty shop units in Cockermouth.
Cockermouth Civic Trust has also objected to the proposals saying it will be in direct competition with shops on Main Street.
However, John Rockcliffe, Mitchells director and head of its land agency,said that he didn’t see the arcade as competition for the Main Street businesses because they were in a prime location.
“If we get the go-ahead, 30 jobs will be quite a boost for the town,” added Mr Rockcliffe.
Mark Wise, Mitchells director and auctioneer, said it would “help broaden the town centre and bring people up to this end of town and increase the whole retail experience.”
The Tithe House building provided a lifeline for Cockermouth businesses after the November 2009 floods.
It became known as Main Street at Mitchells when local traders took up the company’s invitation to open units there.
In its planning application, Mitchells said it had looked at a number of empty units in Station Street, Main Street, Market Place, Market Street and Castlegate, but none had the floor space required by the company.
It said it wanted a high quality, modern retail facility that would increase consumer choice, improve the range of facilities and bring investment into the town without having a significant adverse impact on trade or turnover in the town.
Mr Rockliffe said the arcade would be aimed at traders wanting small retail units with a short lease, as they could not afford the high prices and longer leases of units elsewhere.
JBarwise@cngroup.co.uk
First published at 11:26, Friday, 08 June 2012
Published by http://www.newsandstar.co.uk
Webb: Wholesale Prices Modestly Lower in May - Auto Remarketing
May marked a 0.8-percent decline in wholesale prices, and just one major market class showed a year-over-year gain in value during the month, according to Manheim’s Tom Webb, who offered his analysis in the latest Manheim Used Vehicle Value Index report.
Overall, the index was at 125.1 for May, compared to 126.1 in April.
“The year-over-year decline increased to 2.1 percent as the comparison was made against the Index's all-time high reading,” Webb explained.
“In May, the economy weakened and new-vehicle sales failed to meet expectations, but the volume of used vehicles retailed continued to rise, and dealership profits on those sales were strong,” he added.
Breaking the data down by segment, the only major market class to see an uptick in used values was the pickup category. Webb emphasized volume is tight for this class, particularly mid-mileage models. Meanwhile, compact car movements told a different story.
“Compact cars have the largest year-over-year decline in pricing, but that is simply because the comparison is against the record levels achieved in May of last year,” Webb stated. “Sellers are still achieving prices that they wouldn't have dreamed of three years ago.”
Sharing more analysis, Webb also pointed out that rental risk units, interestingly enough, had their strongest May on record for used prices, despite declining more than 3 percent from April.
“Auction volumes for rental risk vehicles continued to run well above year-ago levels. Average mileage was the same as April, but down 8 percent from May 2011,” he noted.
Wholesale Inventories Rise, Markets Advance - Boston Globe
A 0.6% increase in wholesale inventories lifted the markets higher during the midday with the Dow rising 24 points to 12,485. Nasdaq gained 11 points to 2842.
On the upside
Billionaire investor Carl Icahn acquired additional shares of Navistar International (NYSE: NAV) to increase his stake to 11.87%.
Cantor Fitzgerald initiated coverage of Neonode (Nasdaq: NEON) with a Buy rating.
Shares of Zalicus (Nasdaq: ZLCS) continued climbing after a Seeking Alpha contributor wrote yesterday that the company was one of five biotechnology stocks poised for growth.
On the downside
TheStreet Ratings affirmed its Hold rating on US Steel (NYSE: X).
TheStreet Ratings reiterated its Hold with a ratings score of C on Exelon (NYSE: EXC).
Shares of Quicksilver Resources (NYSE: KWK) continued falling after TheStreet Ratings downgraded the company to a Sell rating yesterday.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 763.
Wholesale Summer Headwear From Got Apparel - Owen Sound Sun Times
Visors
Visor is perhaps the first thing that comes to our head when planning to go out to play or watch a ball game. In situations when you want to feel light yet have eyes protected from sunrays, a visor fulfills the need. Visor is a very convenient headgear to keep sun from eyes and forehead. Professional and armature golfers wear visors as their signature style of being a golfer. Most visors are made of polyester and cotton to ensure comfort and practicality for the wearer.
Bandanas
Bandana is a popular piece of headgear. It’s a square or triangular piece of cloth worn on head for style and to protect head from beating sun. Bandanas are very popular among bikers and hikers. It helps them keeping their hair tied to avoid any distraction when ridding or doing any activity that demands full concentration. In fact many national sportsmen wear bandanas as an essential requirement for continuous performance in the field. Different colors of bandanas allow the wearer to make a unique fashion statement. It is one of the most popular headwear in the summer for youth and mature and people.
Baseball Caps
Baseball cap is the third most popular headwear in all seasons of the year. As the name suggests, the origin of these caps can be traced back to baseball caps. The uniqueness and popularity of the game allowed baseball cap to enter mainstream clothing and became a hot summer item. Baseball caps with a round crown and pointing brim make them very desirable for youngsters and the game lovers. Baseball caps, as a headwear, give the wearer a reliable protection from sun in summers. US Navy and US Coast Guards recognize this performance factor and have used baseball caps as an essential part of their uniforms. Baseball caps are also used by various notable armed and security forces around the world.
Summer headwear should be purchased knowing the functions of your preferred headwear and how it complements to your personal unique style. These three items of summer headwear go along with most styles and personalities with no compromise on the comfort summers demand.
No comments:
Post a Comment