Businesses boost stockpiles as sales improve

Businesses anticipate consumer spending to grow and are building up their stockpiles as their sales improve. Both retailers and wholesalers increased their stockpiles in order to help growth in the October-December quarter. 


WASHINGTON (AP) — U.S. companies continued to build up their stockpiles in November as their sales improved, a sign that businesses believe consumers will increase spending in the months ahead.

The Commerce Department says business stockpiles grew 0.4% in November. That follows a strong 0.8% gain in October. Sales increased 0.8% in November after a 0.5% gain the previous month.

Rising stockpiles should help keep growth solid in the October-December quarter. Several economists project growth at a 3% annual rate in that period after a 4.1% rate in the previous quarter. Greater restocking boosts growth because it requires more factory production.

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Retailers led much of the gains in inventories ahead of the holiday shopping season. Wholesalers also increased their stockpiles. Stockpiling by manufacturers was flat.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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