Wholesale Inventories Tumble In September, Confirm GDP Growth Slowdown

Thanks to a plunge in inventory stacking for non-durable goods (which sounds admittedly oxymoronic), wholesale inventories slumped 0.7% MoM in September – the biggest decline since

Source: Bloomberg

This reversal mimics the hangover after 2013/2014’s inventory-stacking surge…

Source: Bloomberg

Not exactly a good sign for Q3 GDP revisions (or Q4…)