U.S. Wholesale Inventories Dip In Line With Estimates In November
(RTTNews) - Wholesale inventories in the U.S. dipped in line with economist estimates in the month of November, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said wholesale inventories edged down by 0.2 percent in November after falling by a revised 0.3 percent in October.
Economists had expected wholesale inventories to slip by 0.2 percent compared to the 0.4 percent decrease originally reported for the previous month.
The modest decline in inventories came as inventories of non-durable goods fell by 0.5 percent in November after sliding by 0.7 percent in October, while inventories of durable goods came in unchanged for the second straight month.
Meanwhile, the report said wholesales were virtually unchanged in November after tumbling by 1.5 percent in October.
While sales of non-durable goods decreased by 0.3 percent in November after plunging by 2.2 percent in October, sales of durable goods rose by 0.3 percent in November after falling by 0.6 percent in the previous month.
With inventories dipping and sales unchanged, the inventories/sales ratio for merchant wholesalers edged down to 1.34 in November from 1.35 in October.
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