Wholesale Inventories jumped 1.0% MoM in August, the fourth consecutive build in inventories in a row and the fastest monthly build since Nov 2016.
This is the fastest annual growth rate for inventories since June 2015 as it appears producers embrace the idea that ‘if they build it, they will come’.
Perhaps most notably, motor vehicles saw the biggest rise (+1.2% MoM, +7.4% YoY) as sales collapse.
This appears positive for Q3 GDP (restocking) but we wonder with Auto sales dumping (and automaker shuttering plants), what could go wrong?
via http://ift.tt/2xIlv0n Tyler Durden