US May wholesale inventories +0.8% vs +0.3% expected

Wholesale sales data from the United States:

  • Prior reading was +0.4%
  • Wholesale sales +0.3%
  • Estimates on wholesale sales ranged from +0.6% to +0.9%

The inventory number will boost Q2 GDP estimates by a couple ticks but the sales number is a drag for growth further out.

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