U.S. Business inventories Rise More Than Expected In November
Business inventories in the U.S. increased by slightly more than expected in the month of November, according to a report released by the Commerce Department on Friday.
The report said business inventories increased 0.4 percent in November, while economists had expected inventories to rise by 0.3 percent.
Revised data showed no change in the business inventories in October compared to the originally reported 0.1 percent decline.
The larger-than-expected rise in business inventories was partly due to a recovery in wholesale inventories, the increase of 0.8 percent in November after a decline of 0.4 percent in October
The preparation of the inventories increased by 0.4 percent in November following a rise of 0.3 percent in October, while retail inventories inched up by 0.1 percent, unchanged from last month.
In addition, the Commerce Department, sales said rose to 1.2 percent in November, after climbing by 0.8 percent in October.
Wholesale and manufacturing sales jumped 1.5 percent and 1.2 percent, while retail sales increased by 0.9 per cent.
Sales grew faster than inventories, the total business inventories/sales ratio fell to 1.33 in November from 1.34 in October.