U.S. wholesale inventories drop less than expected in December
Wholesale inventories slipped 0.1% to a seasonally-adjusted $582bn compared with consensus expectations for
a 0.2% drop and a downwardly-revised 0.4% decline the previous month. Although this was a touch better than expected, it marked the third straight month of falls.
Wholesale inventories of durable goods were down 0.3% from November, but up 0.5% compared with the same month in 2014.
Meanwhile, non-durable goods inventories were up 0.1% from November and 4.1% higher compared with the same month a year ago. ■