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Economic Commentary

What Happened to the Inventory Overhang?

During the first half of 1997, real output in the U.S. economy expanded at a robust 4.3 percent annual rate. Despite such good news, many observers voiced concern about one characteristic of this growth: It was accompanied by the largest six-month increase in business inventories in 13 years.

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Fitzgerald, Terry J., and Jennifer K. Ransom. 1998. “What Happened to the Inventory Overhang?” Federal Reserve Bank of Cleveland, Economic Commentary 3/15/1998.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International