US wholesale inventories for January
the US wholesale inventories for January rose by a greater than expected 1.2% versus 0.1% expected. The prior month was up 1.1% (unchanged from earlier estimate)
- wholesale trade sales increased by 0.5%. Prior month revised to -0.9% from -1.0% previously reported
- stock/sales ratio 1.34 months versus 1.33 months previously
- computer equipment fell -1.1% versus unchanged in December
- durable goods rose 0.9% versus a 1.7% gain in the prior month
- automotive inventories rose 1.4% after a 1.6% gain in December
Rising inventories tend to be good for GDP but it can be bad as well if they are not absorbed by sales. That is the fear after the FOMC cautious tone on Wednesday.
