The resurrected hopes of lift-off velocity GDP growth in America suffered a double whammy this morning.
A considerably bigger than expected trade deficit (-$62mm vs -$59mm exp) suggests Q4 GDP growth may take a hit...
and then wholesale inventories tumbled 0.4% MoM (the 2nd biggest plunge in over 3 years) notching more potential from economic growth hopes.
Still forget Q4 right? 2017 will be trumperrific.
Still, the last two times wholesale inventories contracted year-over-year, the US economy dropped into recession...