November wholesale trade sales rose 0.6% over October, which was right in line with consensus expectations though after the October sales reading was revised down to a 0.8% gain (was up 0.9%). Wholesale inventories edged up 0.1% in November, after a downwardly revised 1.2% gain in October (previously up 1.6%). The inventory-sales ratio held at 1.15 in November, the same as in October. The data will help determine the impact of inventory accumulation on fourth-quarter GDP, though it will likely have a modest affect on markets today....
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Research Type: Commentary
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