Wholesale Inventories Up 1%

Washington, DC, February 9, 2006–Wholesale inventories increased 1% in December, led by growing stockpiles of autos and drugs, according to the Commerce Department.

Sales at wholesalers also increased 1% in the month, led by durable goods and petroleum.

Despite the biggest increase in inventories in a year, the inventory-to-sales ratio remained at a very tight 1.15 in December, up from a record low 1.14 in October.

Economists expected wholesale inventories to increase 0.5%. Inventories increased a revised 0.5% in November, up from 0.4% previously.