Wholesale Inventories Up 0.6% in December

U.S. wholesale inventories in December rose 0.6%, the biggest jump in a year, as companies sought to build stockpiles to keep up with accelerating sales in an expanding economy, a government report showed.

Sales climbed 1% after a 0.6% rise in November, the Commerce Department said. The increase in inventories to $294.5 billion was led by autos and petroleum and followed a 0.5% gain in November. Inventories relative to sales dropped to a record low of 1.17 months’ supply from 1.18 in November.