Highlights
Wholesale inventories rose 0.6 percent in October in what would otherwise be considered an unalarming build were it not for a 1.2 percent decline in wholesale sales. This mismatch drives the stock-to-sales ratio in the sector to 1.22 vs 1.20 in the prior two months. The Commerce Department is uncertain how much impact, if any, Hurricane Sandy had on the data. Previously released inventory data for October from the manufacturing show no dramatic effects.

The decline in wholesale sales during October was spread across categories but does show an especially heavy decline for autos. Very strong auto sales at the retail level during November point to strength for wholesale autos in the November report. But the November report is also likely to show some volatility from the storm which shut down much of the Northeast shore early in the month. Next data on inventories will be the business inventories report on Thursday.

Market Consensus before announcement
Wholesale inventories rose a steep 1.1 percent in September in a build that was easily offset by a 2.0 percent jump in sales at the wholesale level. The mix made for a leaner stock-to-sales ratio which was at 1.19.

2012 Release Schedule

Released On: 1/10 2/9 3/9 4/10 5/9 6/8 7/11 8/9 9/12 10/10 11/9 12/11 Release For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct