Latest US wholesale data now out
– -0.2% prev revised down from +0.3%
– wholesale trade sales mm -0.2% vs +0.2% exp vs -1.9% prev revised down from-1.3%
– factory shipments fell 0.7% mm
Inventories, a key component of GDP, falling at their fastest pace in nearly 3 years.The component of wholesale inventories that goes into the calculation of GDP – wholesale stocks ex autos- dropped -0.4% in Feb.