February's preliminary wholesale inventories print rose the most since Sept 2012 and while the final print was slightly lower at +1.0% MoM - still the highest since Oct 2013.
(Click on image to enlarge)
However, the inventories-to-sales ratio remained flat at 1.26x as sales also surged (+1.0% MoM vs +0.1% exp) rebounding from January's drop.
(Click on image to enlarge)
Year-over-year, wholesale sales continue to outpace inventory growth...
(Click on image to enlarge)
The solid inventories print (better than expected) will likely spark modest Q1 GDP upgrades.
Comments
Log in or sign up to join the conversation.