Wholesale inventories grow as sales fall

Sales for December fell 0.7% while inventories increased 1.1%. Economists had expected both to grow.

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NEW YORK (CNNMoney.com) -- December Wholesale inventories increased 1.1% and sales fell 0.7% from November, the U.S. Census Bureau announced Friday.

Economists polled by Thomson financial had expected inventories to grow by only 0.3% and sales to increase by 0.5%.

According to the Census Bureau, inventories were worth about $411.6 billion. Inventories of motor vehicles and auto parts were up 3.5%, and commodity inventories, with the exception of petroleum, were up 1.7%. Inventories of oil-based products grew 9.2%.

Wholesalers sold $376.6 billion in total goods during December. Sales of durable goods fell 2%. The biggest decline was in electronics and computer sales. Sales of non-durable goods increased by 0.4%.

December's wholesale inventories/sales ratio, according to the Census Bureau, was 1.09.

The Bureau plans to revise its numbers based on its Annual Wholesale Trade Survey. Those revised numbers are scheduled for release on March 27th. To top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.