Investing.com - U.S. business inventories rose broadly in line with market expectations in December, official data showed on Thursday.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 0.4% in December, matching analysts’ expectations.
Wholesale inventories rose by an unrevised 0.3% in November.
Year-on-year, business inventories rose at an annualized rate of 7.7% in December, after climbing at a rate of 8.5% in November.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.23% to trade at 1.3157.
Meanwhile, U.S. equity markets were broadly lower after the open. The Dow Jones Industrial Average shed 0.3%, the S&P 500 index declined 0.35%, while the Nasdaq Composite index dipped 0.15%.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 0.4% in December, matching analysts’ expectations.
Wholesale inventories rose by an unrevised 0.3% in November.
Year-on-year, business inventories rose at an annualized rate of 7.7% in December, after climbing at a rate of 8.5% in November.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.23% to trade at 1.3157.
Meanwhile, U.S. equity markets were broadly lower after the open. The Dow Jones Industrial Average shed 0.3%, the S&P 500 index declined 0.35%, while the Nasdaq Composite index dipped 0.15%.