Wholesales Inventories and Sales beat expectations ( 0.3% and 0.2% respectively) but, thanks to significant downward revisions in August, hope for a Q3 GDP boost are dashed. Sales growth remains near 2014 lows and inventory growth hovers near 14 month lows. Inventories-to-Sales ratios were flat in September at 1.19 months. Petroleum inventories plunged 5.3% MoM and down 13.2% YoY – the largest since Jul 2009.
Weaker trend continues…
This post was published at Zero Hedge on 11/12/2014.
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