US Wholesale Inventories Unrevised

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US wholesale inventories fell by 0.2% month-over-month in November 2023, matching the preliminary estimate and following a downwardly revised 0.3% decrease in the prior month. This marked the second consecutive decrease in wholesale inventories, driven by non-durable goods (-0.5% vs -0.7% in October), especially chemicals (-3.3%), apparel (-1.8%) and groceries (-1.6%). On the other hand, stocks for durable goods remained flat for the second month running, as increases seen in machinery (1.3%), miscellaneous durable goods (0.6%), professional equipment (0.3%) and furniture (0.1%) were outweighed by declines in inventories of automotive (-1.1%), lumber (-1.1%), computers equipment (-1%) and hardware (-0.8%). Yearly, wholesale inventories declined by 3% in November, compared to an earlier estimate indicating a 3.1% slump.

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