RSS U.S. Business Inventories Inch Up 0.1% In November, In Line With Estimates

[Crax Bot]

In a report issued on Thursday, the Commerce Department detailed a modest rise in U.S. business inventories for November. Specifically, business inventories edged upward by 0.1 percent during this month, whereas revised data from October revealed no change in inventories.

This slight increase was anticipated by economists, who had projected a 0.1 percent rise, consistent with the initial reporting for October. The uptick in business inventories was attributed to a 0.3 percent rise in manufacturing inventories and a 0.2 percent increase in retail sales inventories, which together compensated for a 0.2 percent decline in wholesale inventories.

Additionally, the report highlighted a 0.5 percent increase in business sales for November, following a stagnant performance in October. Retail sales surged by 0.9 percent, wholesale sales increased by 0.6 percent, and manufacturing sales edged up by 0.1 percent.

Despite the more pronounced increase in sales compared to inventories, the overall business inventories-to-sales ratio in November remained steady at 1.37, unchanged from the preceding month.

The material has been provided by InstaForex Company - www.instaforex.com

Click to read more...