Recession Alarm: Wholesale Sales Plunge Alongside Factory Orders, Worst Since Lehman
by Tyler Durden
ZeroHedge.com
03/10/2015
For the first time since Lehman, Wholesale Trade Sales dropped for a 3rd month in a row in January. Plunging 3.1% MoM (against -0.5% expectations), this is the biggest drop since March 2009. Excluding auto sales, wholesale sales fell 3.5%. Wholesale inventories rose 0.3% (beating expectations) with only a very modest -0.1% drag from oil.
This has sent the inventory-to-sales ratio soaring as the “Field Of Dreams” economy is back – but as one wise trader noted, we are now 10bps higher in inventory/sales than when we entered the recession in Dec 2007.
The Rest…HERE
