The Commerce Department reported on Monday its final estimates
showed that the U.S. wholesale inventories rose 1.4 percent m-o-m in November, being
above the preliminary estimates of a 1.2 percent m-o-m increase.
Economists had forecast the reading to stay unrevised at 1.2 percent
m-o-m.
In October, wholesale inventories soared 2.5 percent m-o-m. That marked the largest
monthly gain on record.
According to the report, durable goods inventories jumped 2.1 percent
m-o-m in November, as all 10 durable industries registered increases, led by Furniture
(+4.5 percent m-o-m), Miscellaneous Durable (+3.9 percent m-o-m), and Hardware (+3.4
percent m-o-m).
In addition, stocks of nondurable goods went up 0.3 percent m-o-m, as 5
out of 9 nondurable businesses witnessed advances in wholesale inventories in November.
Apparel (+3.9 percent m-o-m) saw the largest gain, followed by Groceries (+2.6
percent m-o-m) and Miscellaneous Nondurable (+1.9 percent m-o-m). At the same
time, the biggest drop occurred in Petroleum (-5.4 percent m-o-m).
In y-o-y terms, wholesale inventories surged 15.9 percent in November.