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ECON: Wholesale Sales Rise Most Since 3/11, Inventories Slightly Higher
Posted to: Micro News
Thursday, January 10, 2013 10:21 AM
- Inventories +0.6 vs +0.3 Consensus
- October revised lower from .6 to .3
- Sales +2.3 pct vs +0.6 Consensus
- October sales revised to -0.9 from -1.2
- Sales see largest rise since March 2011
- What this all means: nothing... Not inasmuch as today's trading activity is concerned. It's a 2nd to 3rd tier piece of stale economic data that struggles to impact even calm, bored markets, let alone markets that are reeling from bullish ECB announcements and technical bounces. But it's a piece of scheduled economic data, so here it is:
The U.S. Census Bureau announced today that November 2012 sales of merchant wholesalers, except manufacturers’ sales branches and
offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $419.3 billion, up 2.3 percent (+/-0.5%)
from the revised October level and were up 5.6 percent (+/-0.7%) from the November 2011 level. The October preliminary estimate was revised
upward $1.3 billion or 0.3 percent.
. Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations
but not for price changes, were $498.9 billion at the end of November, up 0.6 percent (+/-0.4%) from the revised October level and were up 7.0
percent (+/-1.2%) from the November 2011 level. The October preliminary estimate was revised downward $1.0 billion or 0.2 percent.
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