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Highlights
Wholesale inventories rose 1.3 percent in November, above a 1.0 percent rise in wholesale sales and pushing the inventory-to-sales ratio up 1 tenth to 1.20. The data were pushed higher by sales declines and inventory increases for hardware and miscellaneous durable goods. Sales gains for both autos and petroleum exceeded inventory increases.
Inventories on the manufacturing side, previously released with factory order data, rose 0.2 percent in November. Inventories on the retail side, to be released in Friday's business inventory data, will round out November's inventory data. And unless retail inventories show a big decline, overall inventories are likely to show an increase in November. Note unwanted inventory building is a always a risk during economic slowing.
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