FXstreet.com (Barcelona) - Wholesale inventories have increased more than expected in December in the United States, as sales dropped sharply on the month, according to the US Commerce Department.
Inventories have increased 1.1% in December, a sharply larger increase than the 0.3% expected, and also above the 0.8% revised rise posted in November.
The main reason for the increase has been the 0.7% decrease in wholesale sales, reversing a 1.9% revised increase posted in November, previously estimated as a 2.2% rise. Year on year, sales increased 10.6%, while inventories rose 6.1%
The inventory to sales ratio, which calculates the time to empty current inventories at the current sales pace, has, thus, increased to 1.09 months from 1.07 months in November.