U.S. Wholesale Inventories Rebound In Line With Estimates In December
(RTTNews) - The Commerce Department released a report on Thursday showing wholesale inventories in the U.S. rebounded in line with estimates in the month of December.
The report said wholesale inventories climbed by 0.4 percent in December after falling by a revised 0.4 percent in November.
The growth in wholesale inventories matched economist expectations as well as the preliminary estimate provided late last month.
The rebound in wholesale inventories came as inventories of durable goods increased by 0.6 percent, more than offsetting a 0.1 percent dip in inventories of non-durable goods.
The Commerce Department also said wholesale sales advanced by 0.7 percent in December after edging down by 0.1 percent in November.
Sales of durable goods jumped by 1.0 percent during the month, while sales of non-durable goods increased by 0.5 percent.
With inventories and sales both rising, the inventories/sales ratio for merchant wholesalers in December came in unchanged from November at 1.34.
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