Wholesale Inventories Contract For First Time In 6 Years, GDP Hockey-Stick 'Guesses' At Risk

While GDP forecasts are being dragged lower from exuberant hockey-stick levels already, today's weakness in wholesale inventories will do nothing to help. A 0.1% decline YoY is the first since June 2010 and has always coincided with US economic recessions.

Inventories continue to slide...

 

The hockey stick of hope in Q3 estimates may need to be shaded...