The U.S. Census Bureau issued its monthly advance report for several economic indicators on Dec. 28, showing that wholesale inventories logged another slight decrease month-over-month and a moderate decrease year-over-year.

The report showed that November wholesale inventories, adjusted for seasonal variations and trading day differences but not for price changed, ended the month at an estimated level of $895.7 billion, down 0.2% from October and down 3.1% year-over-year.

October’s month-to-month wholesale inventories percentage change was revised down slightly from the preliminary estimate of -0.4% to -0.3%.

Year-to-date, wholesale inventories have fallen in nine of 11 months through November 2023, with the exceptions of September’s 0.1% increase and a flat February.

Advance International Trade in Goods

The report showed that the international trade deficit was $90.3 billion in November, up $0.7 billion from from October. Exports of goods for November were $165.1 billion, down $6.2 billion from October. Imports of goods for November were $255.5 billion, down $5.5 billon from October.

Advance Retail Inventories

Retail inventories at the end of November were estimated at $794.9 billion, down 0.1% from October and up 5.1% year-over-year. October’s month-to-month retail inventories percentage change was unrevised from its preliminary estimate of down 0.1%.

The Bureau will release its final economic indicators report for the month of November on Jan. 10.

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