Inventories at US wholesalers posted a larger-than-expected gain in November, a Commerce Department report showed on Thursday.
Commerce said wholesale stocks of goods rose 0.5 per cent, matching a gain of the same size seen in October. The number was above Wall Street expectations for a smaller 0.3 per cent increase.
Wholesale sales were also up in November, but at a slower pace than the previous month. Sales gained 0.3 per cent after a 2.0 per cent surge in October.
Despite the hefty gain in inventories, the inventory-to-sales ratio, which measures how long it would take to deplete stocks at the current sales pace, held at a record low 1.18 for a second straight month.
That indicates inventories are still very lean in comparison to sales, even as wholesalers have moved to ramp up their stocks on hand.
