Wholesale Trade “Gap” Reaches Record High As Sales Tumble, Inventories Rise
by Tyler Durden
ZeroHedge.com
03/09/2016
Worst.Case.Scenario. In 24 years, the ratio of wholesale inventories to sales has only been higher than the current 1.35x once – at the peak of the recession in the last financial crisis. Wholesale sales tumbled 1.3% MoM (worse than the -0.3% exp) and inventories rose 0.3% MoM while expectations were for a drop of 0.1% (inventories over sales difference rose from $143.6BN to $151.2BN in one month, a new record high.) And finally, automotive inventories rose to 1.78x sales – the highest since the crisis.
The Rest…HERE
