March 22, 2019 / 2:12 PM / 4 months ago

U.S. wholesale inventories post largest gain in more than six years

FILE PHOTO: Warehouse workers deal with inventory stacked up to the ceiling at an ABT Electronics Facility in Glenview, Illinois, U.S. December 4, 2018. REUTERS/Richa Naidu

WASHINGTON (Reuters) - U.S. wholesale inventories increased by the most in more than six years in January, the Commerce Department reported on Friday.

Wholesale inventories jumped 1.2 percent, the largest gain since September 2012, the Commerce Department said. Wholesale inventories were up 1.1 percent in December, as previously reported.

Economists polled by Reuters had forecast inventories at wholesalers rising 0.2 percent in January.

At January’s sales pace it would take wholesalers 1.34 months to clear shelves, up from 1.33 months in December.

Reporting by Paul Simao; Editing by Paul Grant and Chizu Nomiyama

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