U.S. November business inventories rose 0.4 pct

WASHINGTON, Jan 15 (Reuters) - U.S. business inventories rose 0.4 percent in November, matching expectations, government data showed on Tuesday, even as firms kept stocks at historic lows in relation to sales.

Total business inventories rose to a seasonally adjusted $1.44 trillion after a 0.1 percent increase in October, the Commerce Department said.

November's gain in stocks matched Wall Street forecasts for a 0.4 percent rise in November.

Despite the inventory gain, the stock-to-sales ratio, which measures how long it would take to clear out inventories at the current sales pace, fell to a record low 1.24 months in November, down from 1.26 months in October.

The stock-to-sales ratio was the lowest since the department began keeping records in 1992.

Business sales jumped 1.6 percent in November to $1.16 trillion after a 0.9 percent October gain.

Businesses may have been holding inventories at historically low levels in part, because of the outlook for slower economic growth in 2008. (Reporting by Nancy Waitz, Editing by Neil Stempleman)