U.S. Wholesale Inventories Rise Less Than Expected In December

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With an increase in inventories of durable goods partly offset by a drop in inventories of non-durable goods, the U.S. Commerce Department released a report on Tuesday showing that wholesale inventories rose by less than expected in December.

The report said wholesale inventories increased by 0.3 percent in December after rising by 0.5 percent in November. Economists had been expecting another 0.5 percent increase.

The modest growth reflected a 1.3 percent increase in durable goods inventories, which was partly due to a 5.3 percent jump in inventories of computer equipment.

On the other hand, non-durable goods inventories fell by 1.3 percent amid steep drops in inventories of farm product raw materials and petroleum and petroleum products.

The Commerce Department also said wholesale sales rose by 0.5 percent in December following a 1.0 percent increase in November.

Sales of durable goods edged up by 0.3 percent amid a jump in sales of lumber and other construction materials.