WASHINGTON—U.S. wholesale inventories increased more than initially thought in November, suggesting that the restocking of warehouses likely contributed strongly to economic growth last quarter. The almost broad increase in inventories reported by the Commerce Department on Monday also offered more hope that supply bottlenecks were easing. It followed in the wake of an Institute for Supply Management survey last week that showed improved supplier deliveries to factories in December. “The fourth-quarter inventory build is shaping up to again be a strong contributor to topline GDP growth,” said Matt Colyar, an economist at Moody’s Analytics in West Chester, Pennsylvania. “Indications that the worst of the global supply-chain problems are behind us have mounted in recent weeks.” Wholesale inventories rose 1.4 percent in November, instead of 1.2 percent as estimated last month. Stocks at wholesalers increased 2.5 percent in October. Inventories are a key part of gross domestic product. There were big …
US Wholesale Inventories Rise Strongly, Seen Boosting Fourth Quarter Growth
January 11, 2022
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