US wholesale inventories increase marginally in December

WASHINGTON, Feb 24 (Reuters) - U.S. wholesale inventories increased marginally in December amid strong sales growth, government data ?showed on Tuesday.

Stocks at wholesalers ?rose 0.2%, matching the gain in November, the ?Commerce Department's Census Bureau said. The ?report was delayed by last ?year's government ?shutdown.

Inventories, a key part of gross domestic product, ?advanced 2.9% on ?a year-over-year basis in December. There were strong increases in stocks ?of motor vehicles ?and ?furniture.

But professional equipment inventories fell 0.2% while those of computer equipment declined ?1.4%. Business inventories added to the ?1.4% annualized GDP growth pace in the fourth quarter, despite marking their third straight quarterly decline. Inventories have ?been ?drawn down amid steady consumer ?spending. The economy grew 4.4% in ?the July-September quarter.

Sales at wholesalers increased 1.0% in December after jumping 1.4% in November. At December's sales pace it would take 1.27 months to clear shelves, down ?from 1.28 months in November. The inventories/sales ratio was at 1.30 months ?in December 2024.

(Reporting ?by Lucia Mutikani; Editing by ?Paul Simao)