Q1 GDP Takes Another Hit As Wholesale Inventories Slide In March

Tyler Durden's picture

With non-hope-based GDP forecasts for Q1 at cycle lows, today's wholesale inventories decline will not help. After dropping in January, and rebounding in Feb, March saw inventories drop 0.1% (against expectations of a 0.2% rise).

 

This is the first quarterly decline in wholesale inventories since Q1 2016 (when the world was feared to be heading into recession).

Yet another 'hard' data disappointment.

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Hammer823's picture

A disappointing GDP is a good thing.  It means that we can grow from that disappointment in the future.

See how it works.  There is no "bad".  Everything can be spun to be "good".  Because there is always hope for the future.

After all, this has to be the case.  Since every Government budget, Pension, 401K, IRA, and 529 absolutely DEPEND on stock prices going up, forever, and ever.

https://www.instagram.com/the_rigged_street_journal/

SallySnyd's picture

Another in a long line of economic data showing how the Fed has been ineffective.

 

 

JRobby's picture

The "HITS" just keep on coming!

arkel's picture

Still bullish... A nuke could drop on Seattle and the s&p would still close up .2%

stitch-rock's picture

data-scmata...cramer tellin me to sell the kids and pick up NFLX!!

spastic_colon's picture

back in normal days this would have been bad news

LawsofPhysics's picture

LOL!  Am I the only one who remembers "mark to market" and GAP accounting rules?

< crickets >

Okay then, "Mark to Fantasy" for everyone!!!!

Hammer823's picture

I remember.  Price discovery used to exist.  Now Cataplillar can trade near all time high valuations even though their total revenue has SHRUNK by almost $20 BILLION.  They rallied 8% the other day since they finally didn't have another LOSING quarter.  

spastic_colon's picture

ah yes....its been a while since i've heard those words.

could you imagine where indexes would be if FAS157 were still around and securities traded off of GAAP accounting?? CB's are so far down the rabbit hole there is no light at the top anymore.

I'm sure an ____ sigma event is coming in the next report.

small axe's picture

Mark to market died in late April or early May 2009, if I recall correctly. It's been fantasy ever since.

The status quo has always had a huge stake in making people believe white is black and black is white. They have nearly succeeded in this case. Except it ain't going to work when this carefully manipulated system goes even slightly off course.

 

LawsofPhysics's picture

"Full Faith and Credit"

The Fed's casino is still open, place your bets.

chicken_goose's picture

Negative GDP prints are now bullish. Continue buying stocks that company insiders are selling, don't worry about it.

Ricki13th's picture

Hard data missed again despite the CNBS telling me that the eCONomy is booming, sad!

Bill of Rights's picture

Fuckers will go to no length for a Trump failure..

bogdan11's picture

Thanks God, the Q1 economic data releases are coming to an end, who knows, at this pace we will be printing a negative GDP growth and that my friends can not happen.

slobbermut's picture

This is Wonderful.....worse things get the less likely they can raise rates - if it keeps getting bad we will have another type of QE implemented!

See....you just have to adapt to the 'new normal' - everything is good, there is no bad, in fact the 'worse' things get the better!  LOL

Embrace the Absudity and prosper!

orangegeek's picture

0.3% - so you know it's much worse and the pending lie will be that much bigger

Suleyman's picture

GDP includes government waste. To fix GDP, increase government waste.