2018 Economic Calendar
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Wholesale Inventories [Advance]  
Released On 1/26/2018 8:30:00 AM For Dec, 2017
PriorConsensusConsensus RangeActual
M/M % change0.7 %0.3 %0.2 % to 0.4 %0.2 %

Wholesale inventories rose 0.2 percent in December as a moderate 0.4 percent build for durable goods was offset by a 0.2 percent draw in nondurable goods. The limited inventory build, though a negative for GDP, is actually healthy given the strength of demand and the need to rebuild inventories which will be a positive for first-quarter production and employment. Note that today's data are incorporated into this morning's GDP report where a slowing in inventory build held down the fourth quarter's headline result.

Consensus Outlook
Wholesale trade inventories are expected to rise a constructive 0.3 percent in December following a large 0.8 percent build in November that, for fourth-quarter GDP, is offset in part by a 0.4 percent draw in October. Sales at the wholesale level have been very strong, up 1.5 and 0.8 percent in November and October which do point to the need for restocking. Gains for wholesale inventories would be a positive for GDP and would help offset what have been flat inventory readings for retailers.

Wholesale inventories measure the monthly dollar value of inventories held by merchant wholesalers and are tracked to gauge inventory change in quarterly GDP. The advance report is released late in the month for the following month and is part of the Monthly Advance Economic Indicators report (which also includes data on retail inventories and international trade in goods). Final monthly data for wholesale inventories are released about two weeks later with the Wholesale Trade report which also includes initial monthly data on wholesale sales.  Why Investors Care

2018 Release Schedule
Released On: 1/262/273/284/265/306/277/268/289/2710/2511/2812/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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