Wholesale Inventories Bounce In May But Remain Drag On Q2 GDP

After tumbling in April, Wholesale Inventories bounced modestly in May (up 0.3% MoM) based on preliminary data.

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Interestingly Retail Inventories rose 0.6% in May, the biggest jump since January.

However, Q2 GDP still faces a headwind as wholesale inventories are down 0.13% so far in April and May.

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