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Thursday, May 25, 2017

US April wholesale inventories -0.3% vs +0.2% expected

  • Prior was +0.2%
  • Retail inventories -0.3% vs +0.4% prior
  • Retail inventories ex-autos -0.2%
This is a bad start for Q2 GDP.

April goods trade balance
  • Prior was -$64.2 billion (revised to -$65.1B)
This, along with weak inventories, is a poor start to Q2 GDP. Inventories and trade were also a drag on Q1 GDP.

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