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US September wholesale inventories advanced 0.8% vs. 1.0% estimate

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US wholesale inventories for September 2022

  • Wholesale inventories for September 0.8% vs. 1.0% estimate.
  • Prior month 1.4% revised from 1.3% previously reported
  • retail inventories ex auto -0.1% vs. +0.7% last month (revised from +0.6%).

Inventories feeds into the GDP data. Higher inventories tend to increase GDP (all things being equal). Inventories continue to rise but are nearer the lows going back to 2021.