WASHINGTON – Business inventories climbed 0.4% in November, the Commerce Department reported today.
Inventories increased for the second straight month after declining for the previous 13 months.
Total business sales increased 2.0% in November. Sales for October were revised higher to 1.4% from 1.1%.
Economists expected business inventories to increase 0.3%, according to the median estimate from Thomson Reuters.
Inventories increased 0.4% in October, revised higher from 0.2%, and, in November, fell 0.4% from a year ago.
Inventories for retail trade dropped 0.2% and, excluding auto and parts inventories, retail inventories fell 0.4%.
The inventories-to-sales ratio dropped to 1.28, the lowest level since July 2008, from 1.30 in October. The ratio was 1.43 in November 2008.
