One indicator of that is the sharp record rise in inventory-to-sales ratios which Wilson called an “unwelcome sign” of a slow recovery. Even with historic inventory reduction rates the inventory-to-sales ratio skyrocketed from a low last June of 1.25 to 1.46 by December. That is the swiftest rise in that benchmark since 1982. And Wilson said it occurred across the entire distribution chain—wholesale manufacturing and retail.
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