The Econoday consensus range for wholesale inventories was 0.5% to 0.6% in line with the advance estimate. Instead, the Census Department reported March Wholesale Inventories at +0.3%. February was revised a tad lower, to +0.9% from +1.0%.

Sales: March 2018 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $497.9 billion, up 0.3 percent (±0.5 percent)* from the revised February level and were up 7.3 percent (±0.9 percent) from the March 2017 level. The January 2018 to February 2018 percent change was revised from the preliminary estimate of up 1.0 percent (±0.5 percent) to up 1.1 percent (±0.5 percent).

Inventories: Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $627.4 billion at the end of March, up 0.3 percent (±0.2 percent) from the revised February level. Total inventories were up 5.5 percent (±0.7 percent) from the revised March 2017 level. The February 2018 to March 2018 percent change was revised from the advance estimate of up 0.5 percent (±0.2 percent) to up 0.3 percent (±0.2 percent).

Inventories/Sales Ratio: The March inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.26. The March 2017 ratio was 1.28.

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It's the second week in May but we are still looking at numbers that tie directly into first-quarter GDP.

Mike "Mish" Shedlock

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.

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 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.

Wholesale and Retail Inventories Rise

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

Wholesale Sales -0.5% Inventories +0.4%

Perhaps there will be an inventory build for the quarter after all because the build in wholesale inventories is not matched by reported sales.

Inventories Soar in December

Wholesale inventories rose 1.1 percent in December. Retail inventories rose 0.9%.

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 Trade: Inventory-to-Sales Ratios Extremely Elevated

Wholesale trade inventories rose 0.1% for the month compared to Bloomberg Econoday expectations of a 0.2% rise.