Dec wholesale stocks up 1.1 percent, tops forecast

WASHINGTON (Reuters) - Inventories of unsold goods at wholesalers jumped a larger-than-expected 1.1 percent in December, while wholesale sales of durable goods posted its biggest drop in more than six years, government data showed on Friday.

The value of inventories rose to $411.6 billion after an upwardly revised 0.8 percent rise in November, the Commerce Department said. Economists polled by Reuters were expecting a 0.3 percent rise in inventories in December.

Wholesale inventories were boosted by a wide range of goods including automobiles, lumber, metals, electrical supplies and non-durable goods, the department said.

Sales by wholesalers fell 0.7 percent to $376.6 billion in December following a downwardly revised 1.9 percent rise in November. Sales of durable goods fell 2 percent in December, its biggest drop since June 2001, when it fell 2.2 percent.

The inventory-to-sales ratio - which measures how long it would take to sell off stocks at the current pace - rebounded to 1.09 months' worth from the record low 1.07 in November.

(Reporting by Nancy Waitz, Editing by Neil Stempleman)