The Commerce
Department reported on Thursday that the U.S. business inventories climbed 0.4
per cent m-o-m in December 2023, following an unrevised 0.1 per cent m-o-m slip in November. That was in
line with economists’ expectations and marked the strongest
monthly increase in business inventories since August 2023 (+0.4 per cent m-o-m).
According to
the report, stocks at retailers jumped 0.6 per cent m-o-m in December, while inventories
at merchant wholesalers increased 0.4 per cent m-o-m, and those at manufacturers
edged up 0.1 per cent m-o-m.
In y-o-y terms,
business inventories went up 0.4 per cent in December.