US wholesale inventories increase marginally in December

WASHINGTON, Feb 24 (Reuters) - ‌U.S. ​wholesale ​inventories increased marginally in December amid strong sales growth, government data ‌showed on Tuesday.

Stocks at wholesalers rose ⁠0.2%, matching the gain in November, the Commerce ‌Department's Census Bureau said. ‌The report was delayed by last year's government shutdown.

Inventories, a key part ​of gross domestic product, advanced 2.9% on a year-over-year basis in December. ⁠There were strong increases in stocks of motor vehicles ​and furniture.

But professional equipment inventories fell 0.2% while those of computer equipment ​declined 1.4%. Business inventories ‌added to the 1.4% annualized GDP growth pace in the ⁠fourth quarter, despite marking their third straight quarterly decline. Inventories have been drawn down ⁠amid steady consumer spending. The economy grew 4.4% ​in the July-September quarter.

Sales at wholesalers increased 1.0% in December after jumping 1.4% in November. At ‌December's sales pace it would take 1.27 months to clear ‌shelves, down from 1.28 months in ⁠November. The inventories/sales ‌ratio was at ​1.30 months in December 2024.

(Reporting by Lucia Mutikani; Editing by Paul ‌Simao)

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