VTWV - Historic Inventory Continued In March But Is It All Price Illusion Too?

• The Census Bureau’s latest advanced estimates for March trade show wholesale inventories jumped again, another 2.3% month-over-month during March. And that was on top of a slightly higher revised estimate for February.
• March’s wholesale inventories figure of 2.3% was the second highest on record, behind only February’s revised, meaning two in a row at rates never before seen.
• Retail inventories (excluding automobiles and parts) was another blockbuster, also up an enormous, historic 2.3% month-over-month.

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