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Financial News: U.S. Business Inventories Edge Down In Line With

U.S. Business Inventories Edge Down In Line With Estimates In November

01/17/2024 - 11:11:00 (RTTNews)

(RTTNews) - Business inventories in the U.S. edged slightly lower in the month of November, according to a report released by the Commerce Department on Wednesday.

The report said business inventories slipped by 0.1 percent in November, matching the dip seen in October as well as economist estimates.

The slight decrease came as wholesale inventories fell by 0.2 percent and retail inventories edged down by 0.1 percent, while manufacturing inventories crept up by 0.1 percent.

Meanwhile, the Commerce Department said business sales rose by 0.2 percent in November after tumbling by 1.1 percent in October.

While manufacturing sales climbed by 0.5 percent and retail sales inched up by 0.1 percent, wholesale sales came in unchanged.

With sales and inventories showing only modest moves, the total business inventories/sales ratio came in unchanged from the previous month at 1.37.

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