Wholesale inventories in the U.S. increased by slightly more than anticipated in the month of November, according to a report released by the Commerce Department on Tuesday.
The report said wholesale inventories surged up by 1.0 percent in November after edging down by a revised 0.1 percent in October.
Economists had expected inventories to climb by 0.9 percent compared to the 0.4 percent drop originally reported for the previous month.
Inventories of durable goods jumped by 1.0 percent in November after inching up by 0.1 percent in October, while inventories of non-durable goods rebounded by 1.0 percent after falling by 0.4 percent.
The Commerce Department also said wholesale sales rose by 0.4 percent in November following a 1.1 percent spike in October.
Sales of both durable and non-durable goods increased by 0.4 percent in November after climbing by 0.8 percent and 1.3 percent, respectively in the previous month.
With inventories rising more than sales, the inventories/sales ratio for merchant wholesalers ticked up to 1.32 in November from 1.31 in October.