Wholesale Inventories on the Rise
Wholesale inventories rose yet again. Today’s reading from the Commerce Department showed a 0.5% gain in wholesale inventories to a seasonally adjusted $487.5 billion. While higher, this matched the Dow Jones consensus of a gain of 0.5% and was up marginally…
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Wholesale trade measures the dollar value of sales made and inventories held by merchant wholesalers. It is a component of business sales and inventories. Wholesalers make up about one-third of all business inventories, with the remaining from retailers and manufacturing firms.
It appears that a large component may have been in petroleum stocks, with a gain of 9.4%. While this is one more bit of caution, we would caution that the reading goes back to August and this report rarely moves the stock and markets by any handy measure just on its own.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
