WASHINGTON: US wholesale inventories rose a bit more than expected in November, suggesting that restocking would probably contribute to economic growth in the fourth quarter.
The Commerce Department said on Friday wholesale inventories increased 0.5 percent after a revised 1.3 per cent rise in October.
Economists polled by Reuters had expected stocks at wholesalers to rise 0.4 per cent in November after a previously reported 1.4 per cent increase in October. Inventories are a key component of gross domestic product changes.
Excluding autos, wholesale inventories increased 0.6 per cent. This component goes into the calculation of gross domestic product.
Businesses accumulated a massive amount of inventory in the third quarter, leading economists to anticipate a slowdown in the final three months of 2013.
So, far there has been no sign that inventories would be a drag on fourth-quarter GDP, with consumer spending picking up.
Sales at wholesalers rose 1.0 per cent in November after a 1.1 per cent gain the prior month. Economists had expected sales to rise 0.8 per cent in November. At November's sales pace it would take 1.17 months to clear shelves, down from 1.18 months in October.
indiatimes.com
The Commerce Department said on Friday wholesale inventories increased 0.5 percent after a revised 1.3 per cent rise in October.
Economists polled by Reuters had expected stocks at wholesalers to rise 0.4 per cent in November after a previously reported 1.4 per cent increase in October. Inventories are a key component of gross domestic product changes.
Excluding autos, wholesale inventories increased 0.6 per cent. This component goes into the calculation of gross domestic product.
Businesses accumulated a massive amount of inventory in the third quarter, leading economists to anticipate a slowdown in the final three months of 2013.
So, far there has been no sign that inventories would be a drag on fourth-quarter GDP, with consumer spending picking up.
Sales at wholesalers rose 1.0 per cent in November after a 1.1 per cent gain the prior month. Economists had expected sales to rise 0.8 per cent in November. At November's sales pace it would take 1.17 months to clear shelves, down from 1.18 months in October.
indiatimes.com
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