US wholesale inventories increase again in November

WASHINGTON, Jan 29 (Reuters) - U.S. wholesale inventories increased in November, suggesting inventory investment could add to gross domestic product in the fourth quarter after being a ?drag for two straight quarters.

Stocks at wholesalers ?rose 0.2% after a similar gain in October, ?the Commerce Department's Census Bureau ?said on Thursday. ?The report was delayed by the 43-day shutdown ?of the government. Inventories, ?a key part of gross domestic product, increased 1.8% on a year-over-year ?basis in November.

Business ?inventories ?have declined for two straight quarters, subtracting from the GDP growth. The drag was, however, ?offset by a shrinking trade deficit during that period.

The Atlanta Federal Reserve is forecasting that gross domestic product increased at a 5.4% annualized rate in ?the fourth ?quarter, though estimates from big Wall Street banks, including Goldman Sachs, are ?running well below a 3.0% pace.

Economists expect the longest government shutdown in history undercut GDP growth last quarter.

Sales at wholesalers rebounded 1.3% in November after slipping 0.4% in October. At ?November's sales pace it would take 1.28 months to clear shelves, down from 1.30 months in October. (Reporting ?by Lucia Mutikani; Editing by Chizu Nomiyama )