U.S. wholesale inventories declined 0.1% month over month in November 2019 as prior month's level was revised, according to the latest data from the U.S. Census Bureau.
Inventories held by merchant wholesalers, excluding manufacturers' sales branches and offices, came in at a seasonally adjusted $674.94 billion in November 2019, down from a revised $675.39 billion recorded in the previous month.
The consensus estimate of economists polled by Econoday was for wholesale stockpiles to remain unchanged month over month in November 2019.
Sales of merchant wholesalers rose 1.5% to $500.65 billion in November 2019 from a revised $493.41 billion recorded in the prior month.
The inventories-to-sales ratio decreased to 1.35 in November 2019 from October 2019's revised reading of 1.37.
Year over year, wholesale inventories were up 3.3% in November 2019, while sales edged up 0.8%.