Wholesale trade shows big November jump

WASHINGTON (AP) — Wholesalers boosted inventories in November and their sales rose at the fastest pace since the spring of 2011, encouraging signs for the economy.

The Commerce Department says wholesale business stockpiles rose 0.6% in November compared with October, when inventories had risen just 0.3%.

Sales in November surged 2.3%, rebounding from a 0.9% decline in October. It was the biggest one-month sales gain since March 2011.

More restocking leads to more factory production, which boosts economic growth. Faster restocking helped the economy grow at a 3.1% rate in the summer.

With the November increase, wholesale inventories grew to $498.9 billion. That's 29.6% above the post-recession low hit in September 2009.