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US Wholesale Inventories Rise
January Wholesale Inventories for the US have just been announced at 0.6%. The market had only expected a rise of 0.4%, slightly up on December’s figure of 0.3%. This figure captures the level of goods that have been produced in the US but are waiting for onward sales. In essence if this figure is rising it is indicative of a slowing in the US economy as it accounts for delayed or cancelled sales. The production process will quickly adjust to keep this figure around it’s long term average of 0.5% implying that market moving information is really only discernible when this number deviates from the norm for more ... (full story)