Wholesale inventories were released about an hour ago... in a nutshell, "Not good".
| Released on 11/9/2011 10:00:00 AM For Sep, 2011 |
| Prior | Consensus | Consensus Range | Actual |
| Inventories - M/M change | 0.4 % | 0.6 % | 0.3 % to 0.8 % | -0.1 % |
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As you can see, this driver of US GDP missed consensus badly (.6% with the previous at .4%) coming in at a negative -.1%
This would be the first time Wholesale Inventories (something that has propped up GDP for several years) has declined month over month since December of 2009.
I should also point out the 2010-2011 trend is alarming as with any other trend, a series of lower highs and lower lows is a downtrend, with both lower highs and lower lows in place, this doesn't bode well for US GDP.
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