U.S. Wholesale Inventories Dip 0.2% In November, In Line With Estimates
(RTTNews) - Wholesale inventories in the U.S. dipped in line with estimates in the month of November, the Commerce Department revealed in a report released on Wednesday.
The Commerce Department said wholesale inventories slipped by 0.2 percent in November, matching the preliminary estimate as well as economists' expectations.
The report also said the 0.2 percent uptick by inventories in October was revised to show inventories were unchanged for the month.
The modest decrease by wholesale inventories in November came as inventories of durable goods fell by 0.4 percent, more offsetting a 0.2 percent increase by inventories of non-durable goods.
Meanwhile, the Commerce Department said wholesale sales climbed by 0.6 percent in November after falling by 0.3 percent in October.
Sales of durable goods surged by 1.5 percent during the month, more than offsetting a 0.3 percent dip by sales of non-durable goods.
With sales rising and inventories falling, the inventories/sales ratio for merchant wholesalers edged down to 1.33 in November from 1.34 in October.
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