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Wholesale Inventories & Sales Weak Trend Continues, Petroleum Inventories Plunge 13.2% YoY
Wholesales Inventories and Sales beat expectations (+0.3% and +0.2% respectively) but, thanks to significant downward revisions in August, hope for a Q3 GDP boost are dashed. Sales growth remains near 2014 lows and inventory growth hovers near 14 month lows. Inventories-to-Sales ratios were flat in September at 1.19 months. Petroleum inventories plunged 5.3% MoM and down 13.2% YoY - the largest since Jul 2009.
Weaker trend continues...
and the detailed breakdown...
as Petroleum inventories plunge most YoY since July 2009...
Charts: Bloomberg
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Less inventory will mean lower prices...
welcome to the "new normal"...
jump you fuckers!
I'm on my way to the gas station right now to fill up.
https://www.youtube.com/watch?v=2ddyThSL2fg
The unadjusted drop is just as big and it masks lumber's 11% increase that is not part of other expected seasonal increases before the holiday shopping season. If I had LIFO accounting, I would purge my oil inventory to maximize a paper loss before year end before stocking up for 2015,
if you were in petroleum and have had lifo since the beginning of time, your cost is based on 12 dollar oil. why purge it and show teh cost of 12 bucks, unless yo wanted to invrease earnigns as an additional part of financial engineering.
Gas dropping like a stone, Propane the same price as 4 years ago. Eek.
Real economy is imploding.
pods
lololololol
Nice. Cheap Denon equipment for the home theatre.
Cheap diesel? Fucking bring it!!!
Defation serves a important role in a real business cycle...
I'd love to see some true price discovery for a fucking change.
Wipe out the insolvent fuckers already.
No real recovery can occur until this happens.
Deflation is a definite cleansing. The problem is that those who have the least access to credit (producers) can least stand it happening, while those who NEED to be washed out (skimmers) have access to it to ameliorate the effects of it.
I see a day soon where we have a French moment and farmers fling poo on statehouses and decided they would rather burn their crops than sell into a deflationary market.
I'm with you on true price discovery. Tired of seeing the skimmers make off with the loot.
Making me lean to a conscience-ectomy and then becoming a banker.
pods
Full faith and credit.
Stop accepting the "skimmers" bullshit paper, problem solved. Nothing changes otherwise.
Yes, but fun and games with Apple up nearly 1% on...no news? Wonder who's buying it?
DavidC
Over 3 million refugees have fled Syria, 10 million others displaced as new peace plan proposed
Nearly gagged this morning...turned on the computer & the S&P was DOWN! Imagine that.
Christmas is going to be fun this year.......