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US wholesale inventories expanded slightly more than initially anticipated in December, providing hope that supply chain constraints could be slowing down.
Source: US Census Bureau
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Wholesale inventories in the US jumped 2.2% in December of 2021 to $790.8 billion compared to the prior month.
In December, wholesale motor vehicle inventories grew 4.6% after increasing 3.4% in November. Wholesale inventories, excluding autos, expanded 2.0% in December.
Inventory investment surged at a seasonally adjusted yearly rate of $173.5 billion in Q4, the second-largest quarterly surge on record.
Inventories accounted for 4.9 percentage points of Q4’s 6.9% annualized growth rate. Restocking is supporting manufacturing.
Sales at wholesalers increased 0.2% in December after increasing 1.7% in November. At December’s sales rate, it would take wholesales 1.25 months to sell all their products, up from 1.22 months in November.
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