• 2 hours Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 4 hours Champagne Sales Slow As European Economic Worries Grow Louder
  • 20 hours Putin Signs “Digital Iron Curtain” Into Law
  • 23 hours Russian Metals Magnate Sues U.S. Over Sanctions
  • 1 day Tesla Looks To Jump Into Indian Market
  • 1 day Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 2 days Homeowners Experiment With Risky New Investment Trend
  • 2 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 2 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 2 days Ford CEO Gets Raise After Massive Layoff Round
  • 3 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 3 days Where To Look As Gold Miners Inch Higher
  • 4 days Google Faces Billions In Fines From European Regulators
  • 4 days The Energy Industry Has A Millennial Problem
  • 5 days Russian Banks Scramble For Sanction Loopholes
  • 5 days Gold ETFs Take A Hit After Four-Month Run
  • 6 days European Union Takes Aim At Ten New Tax Havens
  • 6 days Goldman Defends Trillion-Dollar Corporate Buyback Spree
  • 6 days $600 Billion At Risk As Boeing Fallout Continues
  • 6 days Venezuela Has Yet Another Crisis Developing
Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

  1. Home
  2. Markets
  3. Other

Inventories and Sales: How Bad Are They? Study in Pictures

In response to GDPNow Rises to 0.3% Following Dismal Retail Sales and Inventory Reports; Fed vs. Fed Update I received a nice email from reader Tibor.

Tibor writes "Hey Mish, Just wanted to thank you for being one of the sanest, if not sanest, economic skeptics out there. Most of the pundits on the bear side would bark at the moon for a fortnight about how corrupt the Atlanta fed update was this morning. Sales down, but GDPNow ticks up?! impossible! Scam! In contrast, you probably pegged the most reasonable explanation in the the 4th sentence of your post. Thanks for not being the typical econ-conspiracy blogger spewing BS to placate the simpletons. I hope you get credit for your measured critiques."

Thanks Tibor.

He was commenting on my thoughts: "I expected a dip to -0.3% because inventories and sales were both down. ... We have seen these kinds of results before, so this is not shocking. Most likely, the numbers were factored into preliminary reports and today's numbers were slightly better than expected."

Let's now take a look at a series of charts to see how dismal (or not) things are.


Total Business Sales

Total Business Sales


Manufacturers Sales

Manufacturers Sales


Retailer Sales

Retailer Sales


Merchant Wholesalers: Inventories to Sales Ratio

Merchant Wholesalers: Inventories to Sales Ratio


Total Business Sales Percent Change From Year Ago

Total Business Sales Percent Change From Year Ago


Total Business Sales Detail

Total Business Sales Detail


Possible Conclusions

  1. "Sufficient momentum for rate hikes as soon as April"
  2. It's different this time!
  3. One and Two
  4. We are in recession
  5. Don't worry, it's the weather

 

Back to homepage

Leave a comment

Leave a comment