US wholesale inventories grow less than expected in December

ISTANBUL

Wholesale inventories in the US grew less than expected in December 2022, according to the Commerce Department data released on Thursday.

The figure, which measures the change in the total value of goods held in inventory by wholesalers, rose 0.1% to $934.1 billion last month.

Wholesale inventories were expected to show an increase of 0.5% in December from the previous month.

The 1% gain in November was revised down to a 0.9% monthly increase. Wholesale inventories in November stood at $932.7 billion, according to the revised figures.

On an annual basis, wholesale inventories in December jumped 17.8% compared to the same month of last year.