US business inventories rise, sales fall for second straight month
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[WASHINGTON] US business inventories rose in November as sales fell for a second straight month, the Commerce Department said on Wednesday.
Inventories increased 0.2 per cent. That was in line with economists' expectations and followed a similar gain in October.
Inventories are a major component of gross domestic product. Retail inventories excluding autos, which go into the calculation of GDP, edged up 0.1 per cent after rising 0.3 per cent in October.
Business sales fell 0.2 per cent in November after slipping 0.3 per cent the prior month.
At November's sales pace, it would take 1.31 months for businesses to clear shelves, unchanged from October.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
