US wholesale stockpiles rose in November but at slower pace following October surge - InfoNews

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US wholesale stockpiles rose in November but at slower pace following October surge

FILE - In this Monday, Dec. 16, 2013, file photo, driver Kyle Woodroof loads packages in his delivery truck, Monday, Dec. 16, 2013, in Kansas City, Mo. Th e Commerce Department reports how much wholesalers adjusted their stockpiles in November and how much their sales changed on Friday, Jan. 10, 2014. (AP Photo/Charlie Riedel, File)
January 10, 2014 - 7:06 AM

WASHINGTON - U.S. wholesale businesses increased their stockpiles in November but at less than half the pace of October when they had jumped by the largest amount in two years.

The Commerce Department says wholesalers boosted stockpiles 0.5 per cent in November compared with October when inventories had increased 1.3 per cent. That had been the biggest one-month gain since a 1.5 per cent rise in October 2011.

Sales were solid in both months, rising 1 per cent in November following a 1.1 per cent increase in October.

Rising stockpiles boost growth because it means factories have produced more goods. Robust restocking contributed two-fifths of the 4.1 per cent growth rate in the July-September quarter. Economists say growth slowed in the fourth quarter in large part because they believe the pace of restocking slowed following the third quarter surge.

News from © The Associated Press, 2014
The Associated Press

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