Wholesale trade inventories in June Rose 0.1%, but May was revised from +06% to +0.3%.

It’s August but we are still discussing second-quarter data. That’s how lagging some of these Census Bureau reports are.

Will there be an inventory build in the third quarter? More importantly, will consumer spending be strong enough to support a build. The consensus opinion now is sales will be strong and there will be an inventory build on top of that. But consumers went on an amazing spending spree in the second quarter. I doubt it will be repeated.