US Wholesale Inventories Rise On Waning Demand as Sales Plunge

US wholesale inventories jumped 0.8 percent in August, as foreign and domestic demand wanes. Indeed, the ratio of inventory to sales hit 1.1, the highest since March as nearly every component showed building supply levels along with weaker sales. In fact, wholesale sales contracted for the second consecutive month in August by 1.0 percent, led by durable goods such as lumber and hardware, while nondurable goods like apparel and farm products dropped as well. This does not bode well for next week's Advance Retail Sales report, especially amidst other indications of faltering consumer spending.

Nevertheless, the US dollar has held up despite this data as the focus remains on slowing growth throughout the rest of the world's major economies.

DailyFX

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