Wholesale inventory and sales data from the US Census Bureau
- Prior inventories were +0.8% (revised to +0.6%)
- Wholesale trade sales +0.1% vs +0.5% exp
- Prior sales were +0.3% (revised to +0.2%)
These numbers don't give you a great sense of the underlying economy on a month-to-month basis but they're an important part of the GDP calculation. The advanced Q2 numbers are already out but the endless revisions are only just beginning. This will add a bit of positive pressure (but will be a drag on Q3, especially given the soft pace of sales).
