US Wholesale Inventories Grew in December

U.S. wholesale inventories grew at a faster rate than expected in December, though still slower than the month before.

The Commerce Department’s survey of wholesalers’ inventories increased 0.4 percent in December to a value of $612.1 billion, beating estimates of 0.2 percent from a survey of Reuters economists.

In November, the amount of unsold inventories on wholesalers’ shelves jumped 0.6 percent, rebounding from an October decline that snapped a six-month streak of gains. The November figure was revised down from 0.8 percent in an advance report released Friday.

At current levels, it would take wholesalers 1.22 months to clear their shelves, a faster pace than the year-ago ratio of 1.29.

The monthly metric is built from a survey of about 4,200 U.S. wholesale firms.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza