Industry

US business inventories rise 0.4% in November 2022

Business inventories in the US rose 0.4% to almost $2.48 trillion in November 2022, according to Commerce Department figures released Wednesday.

While the figure came in line with projections, it follows a 0.2% gain in October that raised the figure to over $2.46 trillion.

Business inventories, which measure the change in value of unsold goods held by manufacturers, wholesalers and retailers, increased 15.1% in November, compared to the same month of the previous year.

An increase in inventories indicates there is a lack of consumer demand as the Federal Reserve continues aggressive monetary tightening to lower record inflation.

Source: Anadolu Agency