The Commerce Department announced on Wednesday that the U.S. business
inventories rose 0.3 percent m-o-m in December 2022, following a downwardly
revised 0.3 percent m-o-m gain (from +0.4 percent m-o-m) in November. That was
in line with economists’ expectations
of a 0.3 percent m-o-m increase.
According to the report, inventories at retailers jumped 0.7 percent
m-o-m, while stocks at manufacturers increased 0.4 percent m-o-m and those at merchant
wholesalers edged up 0.1 percent m-o-m.
In y-o-y terms, business inventories surged 12.1 percent in December.