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 )