The
Commerce Department reported on Wednesday its advance estimate revealed that
the U.S. wholesale inventories jumped 1.2 percent m-o-m in November, following an
upwardly revised 2.5 percent m-o-m surge (from +2.3 percent m-o-m).in October.
According
to the report, the monthly gain was driven by a 2.0 percent m-o-m climb in
durable goods inventories, which followed a 2.4 percent m-o-m advance in the
previous month. Meanwhile, nondurable goods inventories edged up 0.1 percent
m-o-m after a 2.5 percent m-o-m jump in October.
In
y-o-y terms, wholesale inventories surged 15.7 percent in November, helped by
gains in both durable goods (+16.9 percent) and nondurable goods (+14.1 percent)
inventories.