Check out our @WhiteHouseCEA thread on today's GDP report. A touch in the weeds, sure, but that's what we do! Allow me to elaborate this inventories point, as it potentially (important caveat) has outsized importance going forward.
https://twitter.com/WhiteHouseCEA/status/1486708379846262792
As a change in a change, inventories can be the noisiest part of GDP growth, and we're very careful to recognize that one quarter does not a new trend make. But as our tweet says, it is suggestive of a positive development re supply chains.
IE, it may reflect some degree of supply chain unsnarling as companies better navigate supply chain disruptions to rebuild their inventories and create more buffer.
In fact, companies have reported changes in their supply chain practices, including changing the way they place orders with their suppliers, investing in warehousing to support increased inventory, changing delivery and order schedules.
Here's the full skinny on this, from the White House Supply Chain Dashboard. Check it out!
whitehouse.gov/nec/briefing-r…
whitehouse.gov/nec/briefing-r…
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