US business inventories fall 0.1% in November

By Ovunc Kutlu

ISTANBUL (AA) - US business inventories fell 0.1% in November to $2,548.9 billion, according to Commerce Department figures released Wednesday.

The figure came in line with market expectations, following a 0.1% decline in October which stood at $2,550.3 billion.

Business inventories, which measure the change in value of unsold goods held by manufacturers, wholesalers and retailers, were annually up 0.4% in November, compared to the same month last year.

An increase in inventories indicates there is still a lack of consumer demand as a result of the Federal Reserve's aggressive monetary tightening to lower record inflation.​​​​​​​