Wholesale Trade Data Suggest Manufacturing Recession Spreading To Entire Economy

• Wholesale Trade Data Suggest Manufacturing Recession Spreading To Entire Economy
  by Tyler Durden, www.zerohedge.com
  The good news – wholesale inventories are being worked off (falling 0.3% MoM in November – biggest drop since May 2013). The bad news – inventories are being worked off (crushing Q4 GDP hopes and Fed forecasts). The uglynews – Wholesale sales collapsed 1.0% MoM – the biggest drop in a year (leaving the spread between sales and inventories at a record high). The ugliest data of all –inventories-to-sales spiked to 1.32x – (the highest since 2008’s crisis recession and as high as the worst in the 2001 recession!) . The year-over-year drops are a disaster… (chart top of post)
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