US wholesale inventory growth has been revised up to November

tagreuters.com2022binary_LYNXMPEI090MH-BASEIMAGE

Warehouse workers stock up to the ceiling at an ABT electronics factory on December 4, 2018 in Glenview, Illinois, United States. Reuters / Richa Naidu

WASHINGTON (Reuters) – US wholesale inventories grew more than initially estimated in November, suggesting that warehouse replenishment contributed to economic growth in the last quarter.

The Commerce Department said on Monday that bulk inventories rose 1.4% instead of rising 1.2% last month’s estimate. Wholesale inventory grew 2.5% in October.

Economists consulted by Reuters did not predict a revision of inventories. Wholesale inventory jumped 15.9% in November from the same period in 2020.

Inventories are a fundamental part of US gross domestic product (GDP).

Automotive vehicle inventory grew 2.7% after growing 2.8% in October. Still, global semiconductor shortages are constraining vehicle production.

Wholesale inventories excluding automobiles—a measure that is counted in GDP calculations—increased 1.2% in November.

Wholesalers’ sales rose 1.3% in November after rising 2.5% in October.

At the pace of November sales, it would take 1.22 months for wholesalers to clear shelves, an unchanged reading from October.

(by Lucia Muticani)

tagreuters.com2022binary_LYNXMPEI090MH-BASEIMAGE


know more

+ SP: Man dies after leaning in front of car, and scene scares residents on shore
+ One twin became a vegetarian, the other ate meat. check result
+ Reincarnation in history: a centuries-old belief

+ Andressa Urach asks for money on the Internet: ‘Help me pay my card bill’
+ Horoscope: See today’s forecast for your zodiac sign
+ CNH: See what you need to know to apply and renew
+ See which were the most stolen cars in SP in 2021
+ Campaign identifies giant squid responsible for shipwreck in 2011
+ Everything You Need to Know Before Buying a Crockpot
+ US agency warns: never wash raw chicken meat
+ What is known about fluorone?
+ Lemon squeeze trick created a craze on social media

+ IPVA 2022 SP: See how to consult and pay tax

See also  Payroll Tax Hold off May well Mean Difficulties For Employees, Companies And Social Stability : NPR

About the author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *