With an increase in inventories of durable goods offset by a slump in orders for non-durable goods, the Commerce Department released a report on Friday showing U.S. wholesale inventories came in unchanged in the month of November.
The Commerce Department said wholesale inventories were virtually unchanged in November after jumping by 1.3 percent in October. Economists had expected inventories to edge down by 0.1 percent.
Wholesale inventories came in unchanged as inventories of durable goods climbed by 0.9 percent, while inventories of non-durable goods tumbled by 1.2 percent.
Meanwhile, the report said wholesale sales rose by 0.2 percent in November following a 1.7 percent spike in the previous month.
Sales of non-durable goods increased by 0.7 percent, more than offsetting a 0.4 percent drop in sales of durable goods.
Even with the uptick in sales, the inventories/sales ratio for merchant wholesalers in November was unchanged from October at 1.31.
The material has been provided by InstaForex Company – www.instaforex.com