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U.S. December wholesale inventories revised higher
U.S. wholesale inventories increased more than initially thought in December, even as sales accelerated, government data showed on Wednesday. The Commerce Department said wholesale inventories rose 0.3% in December instead of gaining 0.1% as reported last month. Stock at wholesalers was unchanged in November. The component of wholesale inventories that goes into the calculation of gross domestic product shot up 0.7% in December. Inventories fell 1.6% in December from a year earlier. The economy grew at a 4.0% annualized rate in the fourth quarter after a historic 33.4% growth pace in the third quarter. Inventories ... (full story)