WASHINGTON – Business inventories decreased 0.2% in December, the first decline in three months as economists had expected an increase, while sales were up 0.9% in the month, the Commerce Department reported today.
Inventories had increased in November and October following 13 consecutive monthly declines.
In November, inventories rose 0.5%, while sales soared 2.4%.
Economists expected inventories to rise 0.3% for the month, according to the median estimate from Thomson Reuters.
The inventories-to-sales ratio fell to 1.26, equal to the level in June 2008. The ratio has fallen from 1.46 a year ago.
Total retail inventories were unchanged in December and retail inventories excluding motor vehicles increased 0.2%.
Total wholesale inventories fell 0.8% and manufacturing inventories fell 0.1%.
