November saw inventories rise more than expected (+1.0% MoM vs +0.9% exp) and sales disappoint (+0.4% vs +0.5% exp) and were notably revised lower. This sent the inventories-to-sales ratio back up again – stubbornly stuck in recessionary territory.
Both Inventories and sales grew year-over-year…
But the gap between inventories and sales grew in absolute terms for the first time since July…
Sending the inventories-to-sales ratio back up again…
Automotive inventories-to-sales jumped higher once again – back near cycle highs.
via http://ift.tt/2iAQdi1 Tyler Durden