Inventories at U.S. wholesalers increased 1.1% in November, outpacing a 0.7% rise in sales, the U.S. Commerce Department said today.
Economists had been expecting a sizable gain of 0.9% for the nation’s wholesale inventories.
Inventories had increased 1.1% in October as well, with the month’s ales rising by 1.6%.
U.S. holesale sales have increased 14% in the past 12 months, while inventories grew by 11.5%.
Sales of durable goods increased 0.9% in November, despite a 2.3% drop in auto sales. Sales of computer equipment jumped 4.7%.
Inventories of durable goods increased 1.3%.
Sales of nondurable goods increased 0.4% in November, led by a 3.5% rise in chemical sales.
The month’s inventories of nondurable goods climbed 0.9%. Inventories of petroleum have risen 31.2% in the past 12 months, while farm product inventories have fallen 29.9%.
U.S. wholesale inventories rise 1.1% in November
Sales of durable goods rise, despite drop in auto sales
- By: IE Staff
- January 10, 2005 January 10, 2005
- 10:30