GDP Hopes Slashed As Trade Deficit, Inventories Tumble In October

The resurrected hopes of lift-off velocity GDP growth in America suffered a double whammy this morning.

 

A considerably bigger than expected trade deficit (-$62mm vs -$59mm exp) suggests Q4 GDP growth may take a hit...

 

and then wholesale inventories tumbled 0.4% MoM (the 2nd biggest plunge in over 3 years) notching more potential from economic growth hopes.

 

Still forget Q4 right? 2017 will be trumperrific.

Still, the last two times wholesale inventories contracted year-over-year, the US economy dropped into recession...

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