US inventory drawdown underway – Deutsche Bank

Inventories boosted Q4 GDP
Last week’s showed a surprising rise in imports that accounted for a large part of growth at 1.0% compared to 0.4% expected.
Q4 US GDP revisions
Deutsche Bank says it’s beginning to unwind "it appears that the inventory unwind that we have been expecting imminently will begin in earnest in the present quarter." They say the inventory subcomponent of the manufacturing ISM survey points to slower stockpiling.