“If we build it, they will come”
Well they didn’t!!
Wholesale Inventories rose 1.1% MoM In December – the most since Oct 2013. But at the same time, Wholesale Sales slumped 1.0% MoM – the 3rd straight monthly decline…
Wholesale inventories excluding oil rose 1.3% in December.
Wholesale sales excluding automobiles fell 0.8% in December.
Perhaps most worrisome, Wholesales Sales YoY have collapse to almost unchanged as inventories have surged…
Inventory/Sales ratio at 1.33 in Dec. after 1.3 in the prior month…
So while this offers some hope for Q4 GDP revisions, it is unsustainable as sales are failing to appear.
via ZeroHedge News https://ift.tt/2SZVbLl Tyler Durden