US business inventories rise 0.4% in December

By Ovunc Kutlu

ISTANBUL (AA) - US business inventories rose 0.4% to $2,556 billion in December, according to Commerce Department figures released Thursday.

The figure was in line with expectations, following a 0.1% decline in November which stood at $2,546.8 billion.

Business inventories, which measure the change in value of unsold goods held by manufacturers, wholesalers and retailers, were annually up 0.4% in December, compared to the same month in 2022.

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.