Courtesy of Mish.
Wholesale sales numbers bounced a hefty 0.7% but the internals look pretty weak.
Autos were down again with auto inventories up.
Durable goods sales declined 0.2% and apparel dipped 5.9%. The inventory-to-sales figure remained unchanged.
Let’s dive into the Census Department report on Monthly Wholesale Inventories for a closer look.
Wholesale Sales
Key Sales Numbers
- Sales jumped 0.7% jump due to a 13.5% rise in petroleum. Year-over-year, petroleum is down 23.2%.
- Automotive sales slid 0.7%, down 0.9% year-over year.
- Apparel dove 5.9% this month, down 6.2% year-over-year.
Inventories
