U.S. whole inventory decreased -0.1% from previous month recorded 0.7%, downward revised from 0.9%, and lower than expected +0.3%. Rather than whole inventory shrinks, whole sales dropped more, by -0.3% against expected +0.1%. And so, the ratio of inventories to sales remained at 1.3x.
So, we should consider the possibility that real, especially manufacturing, economy faces a headwind in 2nd half this year. Without raising wages or increasing consumption due to higher real term income, it should be more cautious... But, I believe moderate recovery would be continued further with upcoming almost full-employment condition on a mid term view...
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| Source : Zero Hedge |
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| Source : Zero Hedge |
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