Wholesale Inventories Rise 1%

Wholesale inventories rose 1% in December, the Commerce Department said Thursday.

The increase followed no change in November that was originally reported as a 0.2% decrease.

Economists predicted December inventories would rise 0.7%, Bloomberg reported. Wholesale sales rose 0.4%.

Stockpiles of durable goods that are meant to last at least several years rose 0.8%, while inventories of non-durables gained 1.2%.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.