Econoday Comment

"Wholesale inventories rose 0.3 percent in September but retail inventories, also released with today's report, fell a sharp 1.0 percent reflecting a 2.6 percent draw in vehicles, sales of which were unusually strong in the month. The large retail draw could trim back estimates for tomorrow's GDP report."

Mish Comment

The change in trade deficit will not impact the GDP report, much if at all, simply because it's too small to matter.


Inventories are a huge wildcard in tomorrow's GDP report. I have a comment on change in private inventories (CIPI) from Pat Higgins, author of the Atlanta Fed GDPNow Report, coming up shortly.

Mike "Mish" Shedlock

Advance Wholesale, Retail, Trade Indicators: More Muddle Through Numbers

It's nearly June, but we are just now getting a look at Census Department "advance" numbers for April.

Wholesale and Retail Inventories Jump, Trade Deficit Improves Slightly: GDP and Hurricane Impact?

The Census Bureau’s Advance Economic Indicators show a slight improvement in exports and rising retail and wholesale inventories.

Wholesale Inventories Rose 0.3 Percent in September: Unwarranted Inventory Build?

The Census Bureau reported wholesale trade inventories rose 0.3 percent in September. This was an expected result given the Census Bureau's advance estimates.

Wholesale Inventories Down 0.4%, Retail Down 0.1%

Wholesale and retail inventories both declined in October according to the Census Bureau Advance Indicators report.

Advance Wholesale Inventories +0.5%, Retail -0.4%

In March, wholesale inventories rose 0.5% to $628.8 billion. Retail inventories declined 0.4% to $626.6 billion.

Wholesale and Retail Inventories Rise

Census bureau reports show wholesale and retail inventories jumped in November.

Wholesale Inventories Jump 0.7%, Retail Up 0.1%: Impact on GDP?

The Census Bureau Advance Inventory Report shows wholesale inventories rose 0.7% while retail inventories were up 0.1%.

Wholesale Inventories Rise 0.3% in March vs 0.5% Expectation

Wholesale inventories rose less than economists expected. The advance estimate was simply too high.

Wholesale Inventories Flat, Inventory-to-Sales Ratio Shows Hurricane Impacts

The Census Bureau reported wholesale inventories were flat in October. The bureau revised September from +0.7% to +0.6%. Hurricane impacts distorted the numbers, as well as mainstream media analysis of the numbers.