Reporting Note

The Census Bureau announced today it would scrap the advance reports for January and February. It will return to its normal schedule in March.

The Advance Economic Indicators report on inventories shows a steep rise in wholesale and retail inventories.

Advance Wholesale Inventories

Wholesale inventories for December, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $661.8 billion, up 1.1 percent from November 2018, and were up 7.3 percent from December 2017. The October 2018 to November 2018 percentage change was revised from up 0.3 percent to up 0.4 percent.

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Advance Retail Inventories

Retail inventories for December, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $651.1 billion, up 0.9 percent from November 2018, and were up 3.9 percent from December 2017. The October 2018 to November 2018 percentage change was unrevised from the preliminary estimate of down 0.4 percent.

Sales

Unless sales pick up, wholesalers and retailers are going to be sitting on a lot of inventory.

Mike "Mish" Shedlock

Wholesale Inventories Rise Slightly Following Big Jumps in December and January

Wholesale inventories rose 0.2% in February. The inventory to sales ratio is elevated.

Wholesale Inventory Build Continues as Retail Sales Flounder

Wholesale inventories rose 1.0% nearly matching the consensus 1.1% estimate.

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 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 and Retail Inventories Rise

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

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.

Inventories: Another Hit to GDP Estimates for First Quarter

Wholesale inventories declined 0.1% for March while retail inventories rose 0.4% according to Advance Indicators from the Census Department.

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 Up 0.4 Percent: Spotlight on Autos

Wholesale inventories were up 0.4% in December vs expectations of a 0.2% rise. Revisions knocked November lower.