Wholesale inventories continued to grow rapidly in October, up 0.8% from the prior month. The September increase was revised lower to a gain of 0.7% from 0.9% previously reported.
IFR expected inventories to have risen by 0.6% in October, though the average over the last two months works out to be the same after revisions. From a year ago, wholesale sales have risen by 10.1%, their fastest 12-month growth rate in 18 months.
Wholesale sales fell by 0.5% against IFR's expectation of a 0.2% gain. September sales fell by 1.5%, revised lower from a 0.9% drop. The ratio of inventories to sales rose to 1.199 in October, the highest in 16 months but up smartly from a record low 1.148 as recently as June.
No comments:
Post a Comment