Economic Buzz: US business inventories inch up slightly in November

Business inventories in the U.S. crept up by slightly less than expected in the month of November, according to a report released by the Commerce Department on Tuesday.

The Commerce Department said business inventories inched up by 0.1 percent in November after growing by a downwardly revised 0.2 percent in October.

The uptick by business inventories came as wholesale inventories rose by 0.2 percent and manufacturing inventories crept up by 0.1 percent, while retail inventories edged down by 0.1 percent.

Meanwhile, the Commerce Department said business sales climbed by 0.6 percent in November after dipping by 0.2 percent in October.

While manufacturing sales slipped by 0.1 percent, retail sales grew by 0.5 percent and wholesale sales jumped by 1.3 percent.

With sales increasing by much more than inventories, the total business inventories/sales ratio edged down to 1.37 in November from 1.38 in October.

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