The Commerce
Department reported on Wednesday its final estimates showed that the U.S.
wholesale inventories dropped by 0.2 per cent m-o-m in November, matching the preliminary estimate.
Economists had forecast
the reading to be unrevised at -0.2 per cent m-o-m.
In October,
wholesale inventories were flat m-o-m
(revised from +0.1 per cent m-o-m).
According to
the report, durable goods
inventories fell 0.4 per cent m-o-m in November, reflecting declines in 5
out of 9 durable industries, led by Automotive (-2.2 per cent m-o-m). Meanwhile, Furniture (+0.8 per cent m-o-m) and Hardware (+0.7 per
cent m-o-m) recorded the largest advances.
Meanwhile,
stocks of nondurable goods increased by 0.2 per cent m-o-m, reflecting
advances in 6 out of 9 nondurable businesses, driven by Groceries (+1.9 per
cent m-o-m), Petroleum (+1.0 per cent m-o-m) and Alcohol (+1.0 per cent m-o-m).
At the same time, Farm products (-4.5 per cent m-o-m) and Chemicals (-0.5 per
cent m-o-m) registered decreases in wholesale inventories in November, and Drugs posted no
change (flat m-o-m).
In y-o-y terms, wholesale inventories climbed 0.8
per cent in November.