Wholesale Inventories Rise 1.1%

Wholesale inventories rose 1.1% in December, though sales fell 0.7%, the Commerce Department said Friday.

The inventory reading followed a 0.8% gain in November that was larger than originally reported, Commerce said.
 
Economists had forecast inventories would rise just 0.3%, Bloomberg reported.

The decline in sales left supplies on hand at 1.09 months, up from 1.07 months in November.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.