The Commerce
Department announced on Friday that its advance estimate showed that U.S. wholesale
inventories dropped 0.2 per cent m-o-m in November, following a downwardly
revised 0.1 per cent m-o-m rise (from +0.2 per cent m-o-m) in October.
Economists had forecast
a 0.2 per cent m-o-m gain.
According to
the report, the November fall reflected a 0.5 per cent m-o-m decline in durable
goods inventories, which was partly offset by a 0.2 per
cent m-o-m increase in nondurable goods inventories.
In y-o-y terms,
wholesale inventories surged 0.9 per cent in November, as a 1.5 per cent climb
in durable goods more than offset a 0.3 per cent decrease in nondurable goods inventories.