Wholesale inventories and sales rise

• Tweet

WASHINGTON, Jan. 10 (UPI) -- U.S. wholesale inventories rose by 0.6 percent in November to a seasonally adjusted $498.9 billion, the U.S. Census Bureau said Thursday.

Inventories were up 7 percent from November 2011 levels, the bureau said.

Wholesale sales rose 2.3 percent to $419.3 billion in November. Sales increased more than 5.6 percent from November 2011, the Commerce Department agency said.

Sales of petroleum and petroleum products rose 0.1 percent October to November, as sales of non-durable goods fell 1.2 percent month-to-month and rose 6 percent over 12 months.

November sales of durable goods rose 2.7 percent from the previous month and 5.1 percent from the same month a year earlier.

Among durable goods, sales of vehicles rose 2.8 percent month-to-month after dropping 2.9 percent from September to October.

Over 12 months, automobile sales are up 14.3 percent, the bureau said.

The November inventories-to-sales ratio for wholesalers, seasonally adjusted, was 1.19, the bureau said. The November 2011 ratio was 1.17.