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.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.