This page has been archived and commenting is disabled.

Wholesale Inventories Meet Expectations As Sales Plunge Most Since March 2009

Tyler Durden's picture




 

Wholesales inventories were revised lower for the previous month but met current expectations with a modest 0.3% rise. However, under the surface (as ever) things are not quite as muddle-through-like. Wholesale 'sales' plunged by their most since March 2009 with Lumber (but but what about the housing recovery) dropping the most MoM in durables and Farm Products dropping the most YoY among non-durables. This plunge in sales pushed the relatively stable Inventory-to-Sales indicator up to its highest in 19 months.

Wholesale Sales plunge most since March 2009...

 

Chart: Bloomberg

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 07/11/2012 - 10:15 | 2605808 battle axe
battle axe's picture

Watch out below...

Wed, 07/11/2012 - 11:01 | 2605992 TruthInSunshine
TruthInSunshine's picture

One has to hand it to The New York Times, one of the proxy standard bearers of propaganda for the establishment.

You see, if you view the world through the lens that The Times hopes you will, it's all good in the 'hood (and they do hope that their sales pitch convinces enough sheeple- even those stamped out and tapped out by a crushing and continuing real economic structural demolition- that all is well, at least through November):

 

States Face Tough Choices Even as Downturn Ends

 

You see, the "downturn has ended." The worst case scenario going forward is dragging (dredging?) the bottom. There's no possibility (let alone likelihood) that trillions in highly inefficient deficit spending (mainly to backstop insolvent financial parasites that share domiciles in Manhattan & London) by an already bankrupt (de facto) entity that already has many times more debt than officially stated/acknowledged did anything more than produce a "sugar high" for a couple of years, and that things won't continue to deteriorate, especially now that the use of further of imbecilic monetary stimulus on a dead patient won't do any good.

The downturn has ended. /sarc

Wed, 07/11/2012 - 11:57 | 2606284 Totentänzerlied
Totentänzerlied's picture

Lots of publications do this - mixing reasonable statements of opinion "States Face Tough Choices" with blatantly insane counterfactual statements "Even as Downturn Ends". Another popular trick I see is posing idiotic rhetorical questions with blatant ideological bias - "Why is the GOP attacking Eric Holder?" - in this example, to frame "debate" in partisan-oppositional terms and avoid the real issue.

And people still pay for the privilege of reading that shit. You know it's time to end a conversation when you hear "I read it in the New York Times!"

Wed, 07/11/2012 - 13:31 | 2606691 Crack-up Boom
Crack-up Boom's picture

All the news that's fit to spin...

Wed, 07/11/2012 - 10:18 | 2605822 mrktwtch2
mrktwtch2's picture

the planets are all alinging for a nice aug to october rout..if we can get the spx to 1060..bam bam will be out..

Wed, 07/11/2012 - 10:22 | 2605848 Hype Alert
Hype Alert's picture

HHGregg down 35% on weak sales and yet the market drools ahead of the FED minutes for any hint of the next fix. 

Wed, 07/11/2012 - 10:37 | 2605925 Sudden Debt
Sudden Debt's picture

lumber down....

I guess the construction of the FEMA camps is FINISHED!

 

Wed, 07/11/2012 - 10:42 | 2605958 adr
adr's picture

Haven't I been saying for a few months now that wholesale sales have been terrible and retail buyers aren't buying anything. But the confirmation of death at retail is met by a stock market surging on any hope that Bennie Warbucks will hand out dollars like fist bumps at an Obama rally.

 

Headline at CNN: Market to the FED, SAVE US.

WTF, is going on. Near record corn crop expected, price surges 45%. Sales at retail plummeting, Target shoots up to 52 week highs because they announce a partnership with Neiman Marcus. 

I sell to target and the situation there is at Defcon 1. Sales have been terrible, the fashion items outside the designer stuff that sold out in a week have been total duds. The expectations of every woman running out to buy crazy animal print crap, didn't pan out. Electronics aren't moving. Toy department haven't even bothered to be restocked. Summer patio sets had to be sold at 70% off just to get out the door.

But yeah, send the stock to 52 week highs based on nothing but speculation that a tapped out consumer will leverage what is left of their income to buy crap they don't need.

Wed, 07/11/2012 - 10:58 | 2606039 Hype Alert
Hype Alert's picture

Queue Cramer and his "They're dying in the streets" skit.

Wed, 07/11/2012 - 11:07 | 2606086 TruthInSunshine
TruthInSunshine's picture

@adr - Don't worry, for The Bernank or Timmayyyy will "buy" Target (and other flailing retailers, aka zombie brick&mortar) and stuff it into one of the Maiden Lane Slush Funds (Maiden Lanes I trhough XXXXXXXXVII).

For anyone who doubts that this isn't at least possible with some of the dead retailers walking, it's not such a stretch from buying that bastion of hospitality excellence, The Red Roof Inn, and stuffing it into Maiden Lane(s), is it?

Video: Thanks to The Fed, US Taxpayers Now Own The Red Roof
Do NOT follow this link or you will be banned from the site!