The Commerce Department reported on Friday that the U.S. business
inventories soared 1.3 percent m-o-m in November, following an upwardly revised
1.3 percent m-o-m surge (from 1.2 percent m-o-m) in the previous month. This
was in line with economists’ forecast and
marked the 16th consecutive monthly gain in business inventories.
According to the report, inventories at retailers (+2.0 percent m-o-m) recorded
the biggest gain in November. In addition, stocks at merchant wholesalers (+1.4
percent m-o-m) and manufacturers (+0.7 percent m-o-m) also registered advances
in the reporting period.
In y-o-y terms, business inventories surged 9.0 percent in November.