US wholesale inventories grow more than expected in November

By Ovunc Kutlu

ISTANBUL (AA) – Wholesale inventories in the US rose 1% in November to $933.6 billion, according to the Commerce Department data released on Tuesday.

The figure, which measures the change in the total value of goods held in inventory by wholesalers, was expected to show an increase of 0.4% from the previous month.

The 0.5% increase in November was revised to up to a 0.6% monthly gain.

On an annual basis, wholesale inventories in November jumped 21% compared to the same month of last year.