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U.S. Wholesale Inventories Inch Up In Line With Estimates In December
(RTTNews) - Wholesale inventories in the U.S. edged slightly higher in the month of December, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said wholesale inventories inched up by 0.1 percent in December after climbing by 0.9 percent in November. The uptick matched economist estimates.
A 0.9 percent increase in inventories of durable goods was largely offset by a 1.2 percent slump in inventories of non-durable goods.
Meanwhile, the report said wholesale sales were virtually unchanged in December after tumbling by 1.4 percent in the previous month.
While sales of durable goods jumped by 1.0 percent during the month, sales of non-durable goods decreased by 0.9 percent.
With inventories and sales both little changed, the inventories/sales ratio for merchant wholesalers was unchanged at 1.36 in December.
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