Wholesale sales and inventory data
- Prior was +1.1%
- Wholesale sales +1.1% vs +0.4% expected
- Prior sales -1.1%
- Inventories ex autos vs +0.6% prior
This is a low-tier indicator but I expect inventory building to be a major tailwind for the US economy through 2022. This is a low tier indicator but it's another sign of strong underlying demand.
