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Financial News: U.S. Wholesale Inventories Jump More Than Expected In

U.S. Wholesale Inventories Jump More Than Expected In November

01/10/2022 - 10:40:00 (RTTNews)

(RTTNews) - Wholesale inventories in the U.S. jumped by more than expected in the month of November, according to a report released by the Commerce Department on Monday.

The report said wholesale inventories surged up by 1.4 percent in November after spiking by 2.5 percent in October. Economists had expected inventories to increase by 1.2 percent.

The bigger than expected increase in wholesale inventories came as inventories of durable goods shot up by 2.1 percent, while inventories of non-durable goods rose by 0.3 percent.

The Commerce Department said wholesale sales also jumped by 1.3 percent in November after soaring by 2.5 percent in the previous month.

With inventories and sales both showing significant increases, the inventories/sales ratio for merchant wholesalers was unchanged at 1.22.

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