WASHINGTON, March 11 - U.S. business inventories increased in December as sales recorded their biggest drop in three years, potentially pointing to an unplanned piling up of unsold goods.
The Commerce Department said on Monday that business inventories rose 0.6 percent after being unchanged in November. The December business inventory report was delayed by a five-week partial shutdown of the federal government that ended on Jan. 25. The January report, which was scheduled to be published on Thursday, will now be released on April 1.
Motor vehicle inventories rose 0.6 percent rather than the 0.7 percent rise reported last month. That followed a similar gain in November. Retail inventories excluding autos, which go into the calculation of GDP, increased 1.0 percent in December as reported last month.The government reported last month that inventory investment added 0.13 percentage point to the fourth quarter’s 2.6 percent annualized growth rate.
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The storms coming. Trumps economy is almost here.