The Commerce Department announced on Wednesday the US business inventories rose during the month of November while sales fell for the second month in a row.
Business inventories grew by 0.2 percent, a figure that is consistent with the expectations of economists. The number also followed a similar gain in October.
Inventories are an important part of the total gross domestic product. Excluding cars, retail inventories went up by 0.1 percent after posting a gain of 0.3 percent in October.
In November sales shrunk by 0.2 percent and 0.3 percent in October. It would take approximately 1.31 months for businesses to clear their shelves is sales continued at November’s tempo.