By Amara Omeokwe
WASHINGTON--U.S. business inventories increased 0.1% in December to a seasonally adjusted $2.04 trillion, the Commerce Department said Friday. That matched the expectations of economists surveyed by The Wall Street Journal. Here are highlights from the report:
-Factory inventories were up 0.5% in December from the previous month. Retail inventories were unchanged over the month and wholesale inventories declined 0.2%.
-The overall pace of sales fell 0.1% in December from November.
-The overall inventories-to-sales ratio in December was 1.40, compared with 1.39 in November. It had been 1.39 in December 2018.
-The Commerce Department uses data on business inventories in measures of U.S. gross domestic product. Private-sector inventories subtracted from economic growth during 2019's fourth quarter.
(END) Dow Jones Newswires
February 14, 2020 10:15 ET (15:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.