Tuesday, November 28, 2017

Shocks coming through

Wholesale and retail inventories drop.  Credit growth expanded. And trade deficit 2% worse.  These are all aftershock of inventory realignment after the Hurricanes.  We are just now beginning to expense the hurricane costs.

Even so, the downward revisions are not enough to crush the very good growth numbers, but the growth numbers are going back to about 2.5%, still relatively good.

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