FXstreet.com (Barcelona) - U.S. Business inventories have posted a larger than expected decline in November, the third consecutive, according to data released by the U.S Commerce Department.
Business inventories have declined 0.7% in November, instead of the 0.5% decline forecasted by market analysts. Year on year, inventories have increased 3.3%.
The combined value of distributive trade sales and manufacturers' shipments for November, adjusted for seasonal and trading-day differences but not for price changes have declined 5.1% in November, and 8.9% in the last 12 months. The inventory to sales ratio, that is the necessary period of time to eliminate stocks at the current sales pace has increased to 1.41 months in November from 1.24 months in the same month last year.