Sales of autos were especially strong in the wholesale sector during April, up 1.6 percent and making for a 0.4 percent decline in inventories in a draw that will, based on solid unit sales data for May, have to be replenished.
This report, like jobless claims earlier today, is a surprise on the upside, contrasting with what has been a recent downside run of economic data.
Recent History Of This Indicator:
Inventories have been flat this year reflecting destocking efforts in the face of soft demand. Forecasters see wholesale inventories little changed in April, at a consensus of plus 0.1 percent. Inventory builds are not wanted during times of slow economic growth, putting future production and employment at risk.
Inventories have been flat this year reflecting destocking efforts in the face of soft demand. Forecasters see wholesale inventories little changed in April, at a consensus of plus 0.1 percent. Inventory builds are not wanted during times of slow economic growth, putting future production and employment at risk.
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