Q2 GDP To Suffer As Wholesale Inventories Plunge In April

Jon Economy

Thanks to a big drop in automotive inventories (and sales) and farm products, April’s final wholesale inventories data tumbled 0.5% MoM. It has not seen a bigger drop since May 2013.
Auto Inventories dropped 1.4% MoM and Farm Products tumbled 2.4% MoM, but Petroleum products 5% drop was the biggest.
This is considerably worse than the preliminary print.

This post was published at Zero Hedge on Jun 9, 2017.