U.S. Business Inventories Rise in November

Business inventories in the United States grew during November, data by the U.S. Department of Commerce showed on Friday.

After registering an increase of 0.8% in October, business inventories increased by 0.5% in November.

On an annual basis, business inventories declined by 3.2% during November 2020.

Meanwhile, retail inventories went up by 0.7%, while motor vehicle inventories surged by 1.9%.

Wholesale inventories remained unchanged in November, while manufacturers stockpiles increased by 0.7%.

The component of retail inventories that goes into the calculation of the gross domestic product (GDP) rose by 0.2%, revised downward from an estimated reading of 0.3%.