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Economic Report: U.S. wholesale inventories jump 1% in November

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Wholesale inventories surged in November.

Wholesale inventories in the U.S. jumped 1% in November to mark the largest increase in two years, signaling an increase in production that’s likely to boost the government’s official scorecard for economic growth in the final three months of 2016.

The rise in inventories was a a tick higher than the preliminary reading, the government said Tuesday. A decline in October in October was also much smaller than originally reported.

Inventories of durable goods such as new cars and electrical equipment rose 1% in November. Inventories of nondurable goods such as clothing and groceries also increased 1%.

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