Wholesale inventories missed expectations and rose at their slowest rate since July 2013 at a mere 0.3% MoM. However, the more concerning aspect (aside from the inventory build in Q4 that is now over and means GDP downward revisions to come for Q4 on) is that 2013 saw the weakest growth in inventories since 2009's collapse. At a mere 3.96% YoY, 2013's wholesale inventory growth is the 2nd slowest in a decade.
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Charts: Bloomberg