Highlights
Inventory build at the wholesale level corrected in November to 0.1 percent from October's outsized build of 1.2 percent (revised). Looking at November through August, build relative to sales has been steady with the inventory-to-sales ratio holding at 1.15. The sales side of the ratio shows a solid 0.6 percent rise in November vs 0.8 and 0.3 percent gains in the prior two months.

Inventory is a cost for businesses which are effectively keeping it in check. Total inventory build for the fourth quarter is trending just above a quarterly 1 percent rate, right in line with the third quarter's sequential rate. Next data on inventories will be the business inventories release on Thursday morning.

Market Consensus before announcement
Wholesale inventories rose a very sizable 1.6 percent in October against a strong but less sizable 0.9 percent rise in wholesale sales, driving up the wholesale stock-to-sales ratio by one tenth to 1.16. Inventories of farm products and energy products both showed sizable increases in the month as did inventories of metals and electrical goods. On the sales side, the month showed strong gains for farm products, autos, and furniture.

2012 Release Schedule

Released On: 1/10 2/9 3/9 4/10 5/9 6/8 7/11 8/9 9/12 10/10 11/9 12/11 Release For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct