The Census Bureau of the Department of Commerce today reported its October business inventory data come at 0.7% pace and its September data were revised up from 0.9% to 1.3%. Also today reported is the October revised retail sale growth at 1.7% better than the 1.2% it reported in November. Note the sum of retail sale and inventory growth in October comes at 2.4% in comparison with the wholesale sale growth at 2.2%. They match up very well as the demand of the retailers, which is the sum of the retail sale and inventory buildup, is the sale of the wholesaler. The business inventory amount in October, as plotted in the graph below, only accounts for 94.5% of its July level of 2008 before market crashed. So businesses still have much room to buildup their inventory as long as the sales can hold up well. Accordingly I am quite optimistic for the market in the next two months.
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