Wholesale Inventories & Sales Weak Trend Continues, Petroleum Inventories Plunge 13.2% YoY
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...
and the detailed breakdown...
as Petroleum inventories plunge most YoY since July 2009...
Charts: Bloomberg
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