Wholesale inventories in the United States saw a decrease in November, aligning with predictions, according to a report from the Commerce Department published on Wednesday.
The report detailed that wholesale inventories decreased by 0.2 percent in November, confirming both the preliminary assessment and economists' forecasts.
It was also noted that the previously reported 0.2 percent increase in inventories in October has been revised, showing that inventories remained unchanged for that month.
This slight reduction in wholesale inventories in November was attributed to a 0.4 percent drop in the inventories of durable goods, offsetting a 0.2 percent rise in non-durable goods inventories.
Concurrently, the report highlighted that wholesale sales increased by 0.6 percent in November, recovering from a 0.3 percent decline in October.
Sales of durable goods experienced a significant rise of 1.5 percent, effectively compensating for a 0.3 percent decrease in non-durable goods sales.
As sales rose and inventories declined, the inventories-to-sales ratio for merchant wholesalers slightly contracted to 1.33 in November, compared to 1.34 in October.
The material has been provided by InstaForex Company -
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