US wholesale inventories up 0.5%

US wholesale inventories rose generally in line with expectation in November with sales continuing to rise, positive signs for economic growth in the final quarter last year, the U.S. Commerce Department reported on Friday. Inventories at the wholesale level rose 0.5 percent in November from the prior month to 516.4 billion U.S. dollars, following a revised 1.3 percent gain in October. It was 3.3 percent higher than the year-ago level. Sales at the wholesale level increased 1.0 percent to 440.1 billion dollars in November, and was 5.5 percent higher than a year ago. Changes in business inventories is a key component of the changes in gross domestic product (GDP). Much of the strength in the third quarter growth came from business restocking. Economists hold that wholesale sales increase is a good sign for economic recovery, as personal consumption accounted for about 70 percent of the total economic activity in the world's largest economy.