Posted on 08/08/2014 4:24:22 PM PDT by Perdogg
Against expectations of a further rise in inventory build of 0.7%, wholesale inventories rose only 0.3% in June (the same pace as in May) missing by the most since February 2013. With GDP now basically an exercise in inventory expansion and contraction (Q2 inventory estimate amounte to 40% of GDP), this 'miss' offers little hope for the initial Q2 rebound to hold its exuberance. In addition, wholesale sales also missed (up only 0.2% against expectations of a 0.7% rise) with growth slowing for the 3rd month in a row.
Inventories miss significantly...
(Excerpt) Read more at zerohedge.com ...
So....then....everything is still messed up.
Gosh...
How “unexpected”...
The truth is even our government auditors have become partisan puppets - we’ve become a banana republic in short.
The simple truth is, Q1 was going to come in with a negative number so they dumped as many of the Q2 negative numbers as they could into Q1 to avoid having two negative quarters in a row - the common definition of recession. Having Q1 go radically negative was much easier to stomach than the official appearance of being in recession - regardless of what your pocketbook is telling you...
And they wonder why people have no faith in government anymore... They lie to our face at the highest levels and no one in authority says a word about it...
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