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US inventories positive for Q3 GDP revision – Wells Fargo

FXStreet (Córdoba) - According to economists from Wells Fargo today’s inventories numbers support an upside revision for US Q3 GDP.

Key Quotes:

“Business inventories increased 0.3 percent in September which was a larger increase than had been expected and the prior flat reading for August was revised higher to a gain of 0.1 percent.”

“In the recently released first estimate of third quarter GDP, inventories played the spoiler role, subtracting 1.4 percentage points from overall growth during the period.”

“The larger-than-expected inventory build in September combined with the upward revision to August suggests that the first revision to Q3 figures will feature less of a drag from inventories.”

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