US wholesale sales data on a monthly basis (16:00)
- Wholesale sales MoM: -1.3% vs. 1% forecast and 2.2% previously
- US Wholesales inventories revenue MoM: -0.4% vs -0.2% forecast and -0.2% previously
The reading indicated limited consumer activity and weaker sentiment. The drop in inventory reduction revenue may mean that sellers are willing to cut prices more to stimulate the observed limited demand, which suggests a monthly drop in sales. The data support a falling inflation scenario.
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