US business inventories rise 0.4% in December, matching forecasts

US business inventories rise 0.4% in December, matching forecasts

Mubasher: US business inventories expanded in November at the fastest monthly pace since August, data released by the US commerce department on Friday showed.

Inventories rose by 0.4% to a seasonally adjusted value of $1.895 trillion in November.

Data came in line with analysts’ expectations of a 0.4% rise in November.

Inventories were up 3.2% from November 2016, data showed.

By 03:16 pm GMT, the EUR/USD pair surged 0.93% to 1.2144.

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Source: Mubasher

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