U.S. Business Inventories Gained Pace in November

By Xavier Fontdegloria

U.S. businesses continued to increase their restocking efforts in November despite weakening demand, data from the Commerce Department showed Wednesday.

Business inventories rose 0.4% in November after increasing by a revised 0.2% in October, in line with the gain expected from economists polled by The Wall Street Journal.

Inventories rose 1% at wholesalers and 0.1% at retailers, while they were unchanged at manufacturers. On an annual basis, business inventories rose 15.1%.

The inventory-sales ratio stood at 1.35 in November, up from 1.33 in October as sales fell 0.8% on month, the data showed. The ratio increased sharply compared with the 1.26 recorded in November 2021 as demand for goods moderated and inventories accumulated.

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(END) Dow Jones Newswires

01-18-23 1025ET