Wholesale Inventories Rise Less Than Estimates

- Wholesale Inventories for November rose .4% versus estimates of a .5% increase and a .2% gain in October.

BOTTOM LINE: Inventories at US wholesalers rose .4% in November as companies accelerated their restocking efforts after hurricane-related supply disruptions, Bloomberg reported. Sales feel .7% due mainly to a decline in the value of petroleum purchases. The inventory-to-sales ratio increased to 1.15 months from 1.14 the month before. I continue to believe inventory rebuilding will add to US growth over the intermediate-term on increasing business confidence and stable demand.