The Commerce
Department announced on Thursday that the U.S. business inventories inched up 0.1
per cent m-o-m in November
2024, following a downwardly revised flat m-o-m performance (from +0.1 per cent m-o-m)
in October 2024. This was in line with economists’ forecast and marked the first monthly increase in business inventories
since August 2024 (+0.3 per cent m-o-m).
According to
the report, stocks at manufacturers
jumped by 0.3 per cent m-o-m in November and those at retailers climbed by 0.2
per cent m-o-m. Meanwhile, inventories at
merchant wholesalers fell by 0.2 per cent m-o-m
In y-o-y terms,
business inventories surged 2.6 per cent in November.