Looks to me like business is likely to be cutting output to reduce inventories:
Business Inventories
Highlights
Business inventories, up 0.3 percent, rose modestly in May in line with sales which rose 0.4 percent. The stocks-to-sales ratio held unchanged at 1.36. Components show no builds for either factory or retail, which is a plus given softness in both sectors, but a large 0.8 percent build for wholesalers where however sales were strong enough to keep the sector’s stock-to-sales ratio unchanged.
A modest inventory build isn’t a plus for the second-quarter GDP calculation but is a plus for the production and employment outlooks which benefit from lean inventories.
Sales don’t look so good either:
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