The Commerce Department reported on Thursday its advance estimate revealed
that the U.S. wholesale inventories edged up 0.1 percent m-o-m in December
2022, following a downwardly revised 0.9 percent m-o-m rise (from +1.0 percent m-o-m) in November. That
marked the 29th straight monthly increase in inventories.
According to the report, the December uptick reflected a 1.2 percent
m-o-m climb in durable goods inventories that was offset by a 1.6 percent m-o-m
decline in nondurable goods inventories.
In y-o-y terms, wholesale inventories surged 17.8 percent in December, underpinned
by jumps in both durable goods (+20.7 percent) and nondurable goods (+13.3
percent) inventories.