Business Inventories Unexpectedly Dip In December as Sales Rise
U.S. business inventories unexpectedly dipped 0.2% in December, the U.S. Commerce Department announced Friday. The decline was primarily due to an increase in sales, a bullish sign for economic recovery.
The November inventory gain was revised to an 0.5% increase, up from the previously-released 0.4% rise. Business inventories rose 0.8% in October.
Economists surveyed by Bloomberg News had expected inventories to rise 0.2% in December. Prior to the two-month uptrend in October and November, inventories had fallen for 13 straight months.