US wholesale inventories fell -0.2% MoM while sales jumped 0.6% MoM in November.

• This dropped the inventories/sales ratio down from 1.34x to 1.33x.
• The large increase in sales came from strong increases in hardware (+3.4% MoM), computer equipment (+4.9% MoM), and machinery (+2.2% MoM) sales.
• The durable goods inventories/sales ratio fell to 1.72x, down from 1.75x in October and down from 1.81x in November 2023.