US businesses boosted stockpiles in November
Posted Jan 13, 2017 10:06:25 AM.
Last Updated Jan 13, 2017 10:40:59 AM.
This article is more than 5 years old.
WASHINGTON – U.S. businesses stockpiled more goods in warehouses and on store shelves in November as sales improved slightly.
The Commerce Department says business inventories rose a seasonally adjusted 0.7 per cent in November, with strong gains among auto dealers, building materials stores and wholesalers. Sales edged up just 0.1 per cent with the increase coming almost entirely from wholesalers.
Department stores saw their inventories and sales decline between November and October, part of a broader long-term slowdown as shoppers move to online retailers.
But auto dealers bulked up their inventories of vehicles by 1.9 per cent in November ahead of year-end sales. Clothiers and building materials stores also increased their stockpiles.
Manufacturers boosted their inventories 0.2 per cent in November, but their sales slipped 0.1 per cent
