NEW YORK (July 28th)—GDP printed at -0.9 percent this morning, 1.4 percentage points worse than market expectations of +0.5 percent. We had estimated the GDP to print up between nil to 0.5 percent up in our June Jobs Report. We attribute the “miss” to a continuing anomaly from the ports being cleared, discussed more below. The…
Inventories Jump, Putting Pressure on Profits as Businesses Face Steep Discounts to Clear Glut
June 29, 2022
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Business & Marketsbusiness inventoriesCompanieseconomyinflationMarketsU.S. consumersU.S. retailersUS
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Economic indicators for June showed that U.S. retail inventories are rising and businesses have been facing financial pressure to clear out a glut of excess merchandise, according to a June 28 report from the U.S. Census Bureau. Wholesale inventories in May went up by 2 percent from April to $880.6 billion, with a 25 percent…
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