2/14/2012 10:12 AM ET
(RTTNews) - U.S. business inventories rose in December, but at a somewhat lower level than most economists had predicted, according to figures released Tuesday by the Commerce Department.
Business inventories were estimated at a seasonally adjusted level of $1.555 trillion in December, representing a 0.4 percent increase from November levels and a 7.7 percent increase from December of 2010.
Most economists had expected a somewhat bigger 0.5 percent increase in inventories.
The Commerce Department also estimated overall business sales at $1.23 trillion, reflecting a 0.7 percent increase from November and an 8.9 percent increase from December of 2010.
The changes put the inventories-to-sales ratio at 1.26 for December, down slightly from the 1.27 posted for November.
The increase in business inventories was largely at the wholesale level, which saw a 1 percent increase.
In contrast, retail inventories increased by just 0.2 percent, with the automotive sector recording a 0.1 percent increase in inventories. Excluding the automotive sector, retail inventories were up 0.2 percent.
Manufacturing inventories increased even less, edging up by just 0.1 percent.
In raw dollar terms, both business inventories and sales posted new record levels in December, according to Commerce Department figures.
by RTT Staff Writer
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