December Wholesale Inventories Soar, Sales Slump For 3rd Straight Month

"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...

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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...

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Inventory/Sales ratio at 1.33 in Dec. after 1.3 in the prior month...

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So while this offers some hope for Q4 GDP revisions, it is unsustainable as sales are failing to appear.