MNI DATA ANALYSIS: US Nov Business Inventories Rise 0.4%>

--Retail Inventories +0.1%, Same as Advance Estimate 

--Total Business Inventories Excluding Retail Auto Up 0.5%

--Unpublished Retail Components Rose 0.5% In Nov, MNI Calculation Shows

By Kevin Kastner

     WASHINGTON (MNI) - The value of business inventories rose 0.4% in 

November as expected by analysts and calculated by MNI after the 

wholesale inventories report on Wednesday, data released Friday morning 

by the Commerce Department showed. 

     Retail inventories rose 0.1%, unrevised from the advance estimate 

published on December 28. Already released data showed that wholesale 

inventories rose 0.8% in the month, while factory inventories were up 

0.4%. 

     Overall business inventories would have been up 0.5% in November if 

a flat reading for retail motor vehicle inventories was excluded, an MNI 

calculation showed. Motor vehicle inventories were also reported as flat 

in the advance estimate. 

     After excluding the flat reading for motor vehicle inventory, the 

remaining retail categories combined for a 0.2% gain, the same as 

reported in the advance estimate. There were gains in building supplies 

and food stores that offset declines for furniture, clothing, and at 

general merchandise stores. 

     The unpublished retail categories were up 0.5%, according to an MNI 

calculation. This followed a 0.8% increase in the previous month. 

     Business sales rose 1.2% in November, matching an MNI after the 

wholesale release on Wednesday and before the revised retail sales data 

were released earlier Friday. 

     Retail sales excluding food services were up 0.9% in the month, 

while wholesale sales jumped 1.5% and manufacturing shipments, which are 

equal to sales in this report, were up 1.2%. 

     With the smaller rise in business inventories than the business 

sales spike, the inventory-to-sales ratio fell to 1.33 in November from 

1.34 in October. The ratio is well below the 1.40 level in November 

2016, as sales grew at a much faster rate than inventories over the last 

twelve months. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MT$$$$,MAUDS$,M$U$$$]