by Mike ‘Mish’ Shedlock
Mish Talk
Wholesale sales numbers bounced a hefty 0.7% but the internals look pretty weak.
Autos were down again with auto inventories up.
Durable goods sales declined 0.2% and apparel dipped 5.9%. The inventory-to-sales figure remained unchanged.
Let’s dive into the Census Department report on Monthly Wholesale Inventories for a closer look.