Q4 GDP Shocker - Wholesale Inventories Unexpectedly Plunge In October

Against expectations of a 0.4% MoM rise - supporting continued growth in GDP into the fourth quarter - October saw a 0.4% plunge in wholesale inventories.

After five straight months of building inventories, October saw a big GDP-stunting slump...

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The biggest drop was in Motor Vehicles & Parts Dealers which saw a 1% drop in October following a 2.4% decline in September.

We suspect Goldman, Atlanta Fed, and New York Fed GDP forecasts will slump for Q4 after this big disappointment.