Following June's 0.8% surge in business inventories (the most in 4 years) which surged inventrory-to-sales to 1.37x - the highest since 2009 - July's data confirms the recession looms large as inventory accumulation appears to have hit its limit, up only 0.1% MoM (inventory-to-sales hovers at 1.36x - historic recession levels).
Inventories rose a mere 0.1% in July - after June's big rise
Business Inventory-to-Sales ratio remains stubbornly high as sales just do not appear despite all the 'signals' from a market driven purely be fallacious fed fenagling...
Remembering that this data is lagged by 2 months (in the face of disastrous Empire Fed inventory collapse, auto production collapse and retail sales weakness), it appears the "if we build it, they will come" economy just got slapped in the face with the reality that 'Field of Dreams' was a fiction, just like The US 'Recovery'. Time for The Fed to hike rates?