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Q2 GDP Hopes Fade As Wholesale Inventories Miss By Most In 2014
Another day, another uncomfortable fact about Q2 not being the epic bounce back that so many had promised. Wholesale Inventories rose only 0.5% in May - following April's +1.1%. This is the slowest growth in 2014 and biggest miss of expectations since Dec 2013. Wholesale sales also fel back, missing expectations at +0.7%, to the slowest since Feb as April hopes fade. Cue, Q2 GDP downgrades in 3...2...1...
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It is the damn spring. Ok? Noise! NOISE I SAID!
Not according to CNBS:
Wholesale inventories rise 0.5% in May, point to rebound in Q2 GDP CNBC.com staff | @CNBC6 Mins AgoCNBC.com
Well who is right?
No problem. Just lace up your Nike Obama Rio Grande's and walk to another country.
The reason Q1 was reported as low as it was was so Q2 can be reported as a recovery. Back to back GDPs of-1.5% and -0.5% is a recession. while -2.9% and +0.9 is a rebound.
Lower wholesale inventories makes sense to me because why would companies stock up when no one has any money left to buy anything.
Just another reason to BTFATH!
And market rallies right out of the gate just do not look back, do not worry and BTFATH
funny how marketwatch's most popular stories are led by a link to 'US stocks open with sharp losses' and Stanley Fischer's ugly mug.
did he just give another 'I'm buying AAPL' signal?
... maybe he's just cursed.
Edit: looks like we've got a serial downvoter running around ZH today. someone's not happy with today's developments. levered a little too long... or caught pants down with a billyclub up his butt.
HAHAHAHA.... you said billyclub in his butt! Ofcourse that is assuming the chronic down voter is a he which would make me a sexist.
A rebound in Q2 is likely.
1) Oil drilling in the Bakken resumed after cold weather shut it down, as it does each winter. The difference this year is oil drilling and mining is a growing % of GDP.
2) You can rebound from -2.9% all the way up to -2.5%. Is that a celebration?
Fuck yeah, it is. I'd say it would get us to Dow 20,000 in a flash.
Wow! Who could have seen this coming? Beware of stampeding penguins.
http://www.hungrycats.org/~zblaxell/penguins/full/penguin_linux_1600_3.jpg
Just go with the floe.
Careful, Doc, the penguin is the Narrator's power animal
bullish
A rebound could be any number better than 1Q's -2.9%.
With all the buybacks, maybe they need to count stocks as inventory?
"Wholesale inventories rise 0.5% in May, point to rebound in Q2 GDP"
-CNBC
.5% in May, point to rebound in Q2 GDP
Classico.
When life gives you lemons...
You pucker the fuck up and take it like a man
Goldman has Q2 GDP at 3.3% and chance of Brazil winning World Cup at 48.5%.
"A bank executive from London shot his wife dead before turning the gun on himself. Julian Knott, 45, an executive director for J P Morgan, shot 47-year-old Alita repeatedly, police said.
The father-of-three was found dead alongside her in their home in Jefferson Township, New Jersey, on Sunday. He had worked in the City for almost 20 years before moving to the US in December 2012. In a tribute posted online soon after the bodies were found, their daughter Kayleigh said that the couple were: “now stress-free”.
The university student wrote on her Instagram page: “Although I am heartbroken that they will never see me graduate college ... get married or to be grandparents for my children, I can still have inner peace knowing that they are now stress-free in a much better place.”
http://www.standard.co.uk/news/london/london-bank-executive-who-moved-to...
That's fuked up.
bankers r sociopaths...
as such they r capable of anything.
DEATH TO THE MONEYCHANGERS.
"Although I am heartbroken that they will never see me graduate college ... get married or to be grandparents for my children, I can still have inner peace knowing that they are now stress-free in a much better place.”
That's fucking odd.
That's what I was thinking. The parents were obviously going though some tough times... But that statement is something else.
sociopaths breed sociopaths...
see the Clintons for reference.
Or the Bushes, Cheneys, etc..
@Kaiser Sousa
BINGO! Don't forget obama...the biggest sociopath of them all. I can't wait to see what kind of warped pscho demons his supposed spawn turn into when they get older.
Time was you used to pay the ferryman over the river Styx a piece of silver for transport to Elysium...now all it takes is to empty the magazine of a small calibre handgun...payment for two.
- disclaimer: Long Colt, Ruger et al.. short sub high level banksters and immediate family.
Sounds like a very selfish thing to say. My folks are dead but they sure will miss me.
she's a kid trying to process the death of both parents, daddying shot mummy. while it sounds like she sensed something, it's not obvious she knew the reasons for her parents' stress. she's doing what she can to make sense of it. there will be a great many bankers leaving their families reeling. and the world. we only have to look to gaza to glimpse what comes.
With that comment sounds to me like she's become a person of interest
very narcissus ....
What would it take for Congress-critters to rinse, repeat?
USD/JPY>GDP... the new normal. BTFD and sleep well knowing that fundamentals do not matter anymore.
watching the dow attempt to erase the losses on 16 million share volume...
enjoy the show.
http://www.marketwatch.com/investing/index/DJIA
Yep. Our - for lack of a better word - markets will be a lovely shade of green by day's end.
Missed it by >. that. <. much......again.
In the meantime Obama and his staff has created diversionary chaos with the flood of illegals.
And a redecoration of the bowling alley into shades of taupe, mauve, purple and brass with renewable materials so the fucking thing is green, to re-distract the Progressives from the Cloward-Piven immigration thingamajig
Hey Knuks, don't forget all the sparkling shit hanging all over and the flashing disco balls
EconoPray tells us that everything is beautiful with this report.
Highlights
Inventories in the wholesale rose 0.5 percent in May, a solid and balanced rise in line with a 0.7 percent gain in sales that leaves the stocks-to-sales ratio unchanged at a lean 1.18.
There were large inventory gains for lumber, metals, machinery, and drugs, all matched by large gains in sales. Inventories of autos also rose sharply but less so for sales. But heavy wholesale inventory of autos is a likely plus given the building strength in retail sales of autos.
Inventory growth is expected to be a positive for second-quarter GDP as businesses restock to keep up with demand. Next inventory data on the Econoday calendar will be Tuesday with the business inventories report.
Recovery is just around the corner..... corner..... corner.....
That's only three corners, meaning we're in a triangle. Likely the Bermuda Triangle. We're going to have a marvelous time trying to get out of it, I think.
I see our resident serial down-voter is present.
Jon Corzine, is that you? Or is it Fred Phelps, from the great beyond?
I am intrigued...
Remember - in the new normal, down votes are up votes and up votes are up votes! Don't forget to vote!
unless we started on a corner, lol
Interesting comment - you should go post it now on TMZ or people.com
good work
What a larph!! Honestly, how much longer are these burnt toast pencil pushers going to get paid to stare at their computers, with all their fancy maths and be wrong?!
Get outside and walk around your block once a week. You will learn more about economic activity in a month then they taught you in 4 years of university. And you might actually be right once and a while.
Here is Yahoo Finance headline:
U.S. wholesale inventories rise, point to rebound in second-quarter GDPFunny - went to Reuters site - they share the same vomit - and posted a comment - it was accepted, but had to be reviewed first
Nice MSM - pile of fucking shit
Q2GDP will be negative too. But MSM and those useless economists (that includes you Krugman) will still get paid.
Choke on this yellen - got the message?? Get your fat ass out of the markets and out of the way.
.......
So who's the "red arrow" troll this morning? Some one didn't get laid, got their pension cut , pink slipped or laid off?
yeah that asshole never misses a post...
he's just hoping to annoy...
what else u gonna do when you got no life and nothing of value to add...
Become an investment banker or economist?
i downed u just to c if he passes u by...
cheers
I never down voted anyone in my life. Yes I am that guy the one who everyone is trying to destroy and ruin.
only 100 hundred more points to go b4 the Dow is green...recovery right on schedule in tandem with the close in London...
and Silver??? seems $21.50 is the new $20line in the sand...
http://www.kitco.com/charts/livesilver.html
Those 8 ft deep snow blizzards and the sub-zero temperatures gripping the bulk of the USA in May are just killing the economy.
Not to worry. Have any of you ZHers asked your neighbor about that negative GDP from last quarter? I asked one of mine 2 weeks ago who is a plastic boob salesman. He looked at me in amazement and said "Really, do you think that we'll have another recession soon?"
No worries, the sheeple are still asleep. Carry on!
It's the intersteller weather.