Oct wholesale inv -0.5% below the -0.4% the.>

US DATA: Oct wholesale inv -0.5% below the -0.4% from the adv estimate. 

- The outlook for Oct business inv is -0.1% based on the already 

released +0.2% reading for factory inv and assuming no revision to the 

adv est -0.1% for retail inv. 

- Oct wholesale sales +0.7%, so including +0.6% for factory shipments 

and assuming no revision to +0.2% for retail trade sales in last month's 

release, business sales would be +0.5%. 

- Ex. autos, wholesale inv would have still been -0.5% in Oct, while 

sales would have been +0.5%, according to an MNI calc. 

- Wholesale durable inv +0.1%, auto inv -0.7%. Nondurables inv -1.3%, 

but +0.4% for petro. Durables sales +1.3% (autos +3.4%), and nondurables 

sales +0.2% (petro -5.9%). 

- Inv/sales ratio 1.25, down from Sept 1.26, and down from 1.30 yr ago.