Nice Improvement in Wholesale Sales in May 2011

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.

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