• About
  • Privacy & Policy
  • Contact Us
Procurement Nation
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
No Result
View All Result
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
No Result
View All Result
Procurement Nation
No Result
View All Result

Automobiles boost U.S. business inventories in November

Mark White by Mark White
January 14, 2022
in Suppliers
0


Automobiles are shown for sale at a car dealership in Carlsbad, California, U.S. May 2, 2016. REUTERS/Mike Blake/File Photo

Register now for FREE unlimited access to Reuters.com

WASHINGTON, Jan 14 (Reuters) – U.S. businesses maintained a strong pace of inventory accumulation in November, with motor vehicle stocks rebounding a bit more than initially thought, suggesting the worst of global supply chain problems was likely behind.

Business inventories rose 1.3% after a similar gain in October, the Commerce Department said on Friday. Inventories are a key component of gross domestic product. November’s increase was in line with economists’ expectations.

Inventories increased 8.7% on a year-on-year basis in November.

Register now for FREE unlimited access to Reuters.com

Retail inventories accelerated 2.0% in November as estimated in an advance report published last month. That followed a 0.3% rise in October. Motor vehicle inventories rebounded 4.2% instead of 4.1% as estimated last month.

That surge suggested the global shortage of semiconductors, which has constrained motor vehicle production, was abating.

An Institute for Supply Management survey last week showed improved supplier deliveries to factories in December. But there are worries that a global surge in COVID-19 cases, driven by the Omicron variant, could slow the untangling of supply chains.

Retail inventories excluding autos, which go into the calculation of GDP, shot up 1.3% as estimated last month.

A slower pace of inventory drawdown in the third quarter accounted for the bulk of the 2.3% pace of increase in GDP growth for that period. Inventories were depleted through much of 2021, and coronavirus pandemic-related shortages are making it harder to replenish stocks. Restocking is keeping manufacturing humming and supporting the overall economy.

Wholesale inventories increased 1.4% in November. Stocks at manufacturers rose 0.7%.

Business sales increased 0.7% in November after rising 2.2% in October. At November’s sales pace, it would take 1.25 months for businesses to clear shelves, up from 1.24 months in October.

Register now for FREE unlimited access to Reuters.com

Reporting by Lucia Mutikani;
Editing by Andrea Ricci

Our Standards: The Thomson Reuters Trust Principles.



Source link

Previous Post

Maersk quarterly earnings beat expectations

Next Post

Warning sign for the economy: Consumers are getting grumpy

Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

Next Post
Warning sign for the economy: Consumers are getting grumpy

Warning sign for the economy: Consumers are getting grumpy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Privacy & Policy
  • Contact Us
Call us: +1 234 JEG THEME

© 2021 Procurement Nation - Supply Chain & Logistics News

No Result
View All Result
  • Procurement
  • Supply Chain
  • Logistics
  • Science
  • Technology

© 2021 Procurement Nation - Supply Chain & Logistics News