The good news index (GNI) now stands at 40 percent as good news on last month’s retail revenue was offset by a weak report on April’s business (manufacturing and trade) sales.
Retail and food service sales for May reached $340.0 billion, an increase of 0.5 percent from April. Despite the facts that the gain was not widely diffused and included a price-driven increase in gas stations’ sales, this is undeniably good news.
U.S. total business sales for March were $966.8 billion, down 0.3 percent from April. Month-end inventories were $1,384.7 billion, down 1.1 percent. Despite the facts that the decline was considerably less steep than the previous month’s and that the inventory-to-sales ratio edged further down, a decline in sales is always bad news.
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