Wholesale Inventories were unchanged year-over-year for the first time since June 2010 (up 0.2% MoM).
However, below the surface things are worrisome with motor vehicle inventories up again MoM and up a shocking 9.0% YoY. Wholesale inventories-to-sales ratios are improving modestly but remain deep in recessionary territory.
via http://ift.tt/2eLkj1L Tyler Durden