Inventories Rose 0.4% in November - TheStreet

Inventories Rose 0.4% in November

Total business inventories rose by a seasonally adjusted 0.4% in November, a tick better than the anticipated 0.3% jump expected by a survey of economists.
Author:
Publish date:

WASHINGTON (

TheStreet

) -- Businesses added to their stockpiles for the second month in a row, according to a report from the Commerce Department.

Total business inventories rose by a seasonally adjusted 0.4% in November, a tick better than the anticipated 0.3% jump expected by a survey of economists, according to consensus figures provided by Briefing.com.

Still, inventories were down 11.1% since the same time last year.

After 13 straight months of declines, inventories rose for the first time in October, ticking higher by 0.2%. But that tally was revised higher in this most recent report, showing a 0.4% rise during that month as well.

Last Friday, the government said wholesale inventories rose by a surprisingly strong 1.5% in November. Sales surged 3.3%, its strongest showing in 10 months.

Manufacturing inventories also edged higher by 0.2%.

But today's report showed retail inventories dragged on the total, going lower by 0.2% in November, as sales improved by 1.9%.

Wholesale stocks make up about a quarter of all inventories, while about one-third of inventories are held at the factory level. Retail inventories make up the rest.

--Written by Sung Moss in New York