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U.S. Wholesale Inventories Rise 0.3% In November, Wholesale Sales Drop 0.6%

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With an increase in inventories of durable goods partly offset by a drop in inventories of non-durable goods, the Commerce Department released a report on Friday showing wholesale inventories in the U.S. rose by less than expected in the month of November.

The Commerce Department said wholesale inventories edged up by 0.3 percent in November after climbing by an upwardly revised 0.9 percent in October.

Economists had expected inventories to increase by 0.5 percent compared to the 0.8 percent advance originally reported for the previous month.

The report said inventories of durable goods climbed by 0.7 percent in November after jumping by 1.7 percent in October, reflecting notable increases in inventories of furniture, professional equipment, and lumber.

On the other hand, inventories of non-durable goods fell by 0.5 percent in November following a 0.4 drop in October amid a substantial decrease in inventories of petroleum.

The Commerce Department also said wholesale slid by 0.6 percent in November, matching the slump seen in the previous month.

Sales of non-durable goods tumbled by 1.0 percent in November after falling by 0.6 percent in October, with sales of petroleum leading the way lower

The report said sales of durable goods also edged down by 0.1 percent in November following a 0.5 percent drop in October, reflecting sharp declines in sales of furniture, metals, and machinery.

With inventories rising and sales falling, the inventories/sales ratio for merchant wholesalers ticked up to 1.29 in November from 1.28 in October.

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