US November wholesale sales +0.4% vs +0.5% m/m expected
Inventory and sales data from US wholesalers
- Prior sales +1.4% (revised to +1.1%)
- Final revision to inventories +1.0 vs +0.9% expected
- Wholesale inventories originally reported at +0.9% m/m
The higher inventories should bump up Q4 GDP estimates fractionally (they have been rising already). However, the lower sales will crimp Q1 2017.
There was no market reaction to the data.