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?