US Census says wholesale sales in May 2011 was down 0.2%. Using the government’s own unadjusted data, the following graph of year-over-year change in sales clearly shows there was an improvement:
In 5 of the last seven months, wholesale sales have been at record levels – including this month (May 2011).
Overall, the inventory-to-sales ratios – which a rising ratio is an indicator of economic slowing – fell slightly and remains in a historically low range. Bottom line: Wholesale sales do not indicate the economy is slowing.
Business Sales On the Low Side of Trend in March 2011 by Steven Hansen
Auto Sales are Dismal by John Lounsbury
The Consumer is Bouncing Along the Bottom by Rick Davis
Consumers are Coming to Terms with Frugality by Rick Davis
Strong Retail Sales Do Not Point to Real Economic Growth by Steven Hansen
April 2011 Advance Retail Sales: Not Bad , Not Good by Steven Hansen