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"Demand has been pretty good in the fourth quarter, though the momentum peaked early in the quarter"
- Aneta Markowska, a senior U.S. economist at Societe Generale
U.S. month-on-month wholesale inventories barely grew in November, suggesting the economy is recovering at a moderate pace. Inventories rose 0.1 per cent after increasing 1.2 per cent in October, said the Commerce Department on Tuesday.
"We expect some rebuilding in the fourth quarter, and actually quite a substantial boost" to growth from inventories, said Aneta Markowska, a senior U.S. economist at Societe Generale in New York.
"Demand has been pretty good in the fourth quarter, though the momentum peaked early in the quarter."
In a separate report TIPP, a unit of TechnoMetrica Market Intelligence, said its economic optimism index rose to 47.5 in January from 42.8 the previous month. Reading above 50 indicates optimism, below indicates pessimism.