Wholesale Inventories Rise in December

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

The inventories increase followed a little changed figure in November that was originally reported as a 0.1% gain.

The December increase surpassed economists’ median forecast of a 0.4% gain, Bloomberg reported.

Wholesale sales rose 1.3%, the most since March, Commerce said.

Durable goods stockpiles rose 0.7%, led by automobiles and machinery, Bloomberg said.

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