Courtesy of Mish.
The census bureau Advance International Trade reports shows the wholesale and retail exports each declined 0.4% from September to October.
Wholesale inventories are down 0.5% year-over-year, but retail inventories are up 3.2% on the strength of a huge jump in automobiles and auto parts.
Advance Wholesale Inventories
Wholesale inventories for October, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $586.9 billion, down 0.4 percent (±0.4 percent)* from September 2016, and were down 0.5 percent (±1.4 percent)* from October 2015. The August 2016 to September 2016 percentage change was revised from up 0.1 percent (±0.2 percent)* to down 0.1 percent (±0.2 percent)*.
Advance Retail Inventories
Retail inventories for October, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $603.3 billion, down 0.4 percent (±0.2 percent) from September 2016, and were up 3.2 percent (±0.5 percent) from October 2015. The August 2016 to September 2016 percentage change was revised from up 0.2 percent (±0.1 percent) to virtually unchanged (±0.2 percent)*.
Inventories
