April wholesale trade sales and inventories

  • Prior was +2.3% (revised to +1.8%)
  • Final inventories +0.8% vs +0.7% preliminary reading
  • Stock-to-sales ratio 1.34 months vs 1.33 prior

Inventories of autos increased by the most in eight months.

Inventories were a tailwind in the first quarter but are likely to be a drag in Q2.