In this Friday, Nov. 16, 2012, photo, employees work at a shipping area of Generac Power Systems, Inc., one of the largest makers of residential generators in the U.S., in Whitewater, Wis. U.S. companies increased their stockpiles a steady pace in November from October, responding to a solid increase in sales.The Commerce Department said Tuesday that business inventories grew 0.3 percent in November, matching the October gain. (AP Photo/Nam Y. Huh)
January 15, 2013 - 7:06 AM
WASHINGTON - U.S. companies increased their stockpiles a steady pace in November from October, responding to a solid increase in sales.
The Commerce Department says business inventories grew 0.3 per cent in November, matching the October gain.
Sales rose 1 per cent in November, the best showing since a 1.2 per cent rise in September. In October, sales had fallen 0.3 per cent, reflecting in part disruptions caused by Superstorm Sandy.
More restocking leads to more factory production, which boosts economic growth. Faster restocking helped the economy grow at a 3.1 per cent annual rate from July through September.
Most economists say inventory growth has slowed from this summer, a key reason many are predicting economic growth weakened to a rate below 2 per cent in the October-December quarter.
News from © The Associated Press, 2013