WASHINGTON (AP) — Businesses increased their stockpiles in November, a gain that should help boost economic growth.
The Commerce Department says inventories rose 0.3 percent in November following an even stronger 0.8 percent gain in October. Sales rose 0.3 percent in November after a 0.6 percent October increase.
Companies are building up their stockpiles again after cutting them over the summer. That’s a positive sign for growth because it means many businesses are anticipating stronger demand.
The increase pushed inventories to a seasonally adjusted $1.55 trillion in November. That was 17.7 percent above the low hit in the recession year of 2009. Companies tend to build their inventories when they expect stronger sales.