April wholesale inventories
- Prior was -0.1%
- Durable goods +0.7%
- Nondurable goods +0.6%
Inventories of durable goods are up 10.6% year-over-year in what looks like a surefire sign of stockpiling. And why wouldn't you stockpile if you were an importer of the $300B in Chinese goods where Trump is threatening tariffs?