Business Inventories November, 2012
Business inventories rose 0.3% in November from 0.3% in October, originally reported at 0.4%. Within various categories, wholesale inventories rose 0.6%, retail rose 0.3% and manufacturers were flat, all for November. On a year over year basis total inventories rose 5.4%.
Manufacturing inventory levels peaked in March 2012 and have traded down to flat since. This would explain weakness in ISM manufacturing and various Fed regional surveys. If these levels don’t begin to improve it will also add to weakness in the labor market.
Business Inventories October, 2012
Business inventories rose 0.4% in October from 0.7%