In December, US wholesale inventories increased by 0.4%, led by a 2.9% rise in motor vehicle stocks, while economists expected no change.

The US Commerce Department's Census Bureau reported an increase of 0.4% in US wholesale inventories in December, primarily driven by a surge in motor vehicle stocks. While economists anticipated no change in inventories, sales at wholesalers rose by 0.7% after a 0.1% dip in November. Despite the surge in inventories, private inventory investment only contributed 0.1 percentage point to the economy's 3.3% annualized growth pace in Q4, a smaller boost compared to the previous quarter.

February 08, 2024
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