U.S. wholesale inventories rose more than expected in November, but at less than half the pace of October, when they had jumped by the largest amount in two years, the government reported Friday, suggesting that restocking of goods could contribute to economic growth in the fourth quarter. The Commerce Department said wholesalers increased inventories 0.5 percent in November compared to October, when inventories had jumped 1.3 percent. Sales at the wholesale level rose in both months, increasing 1 percent in November and 1.1 percent in the previous month. November wholesale inventories rose to $516.34 billion, or 3.3 percent above the level seen in the same month of 2012. Rising inventories help economic growth because it means factories have produced more goods. Strong restocking of inventories contributed two-fifth of the 4.1 percent growth rate in the July-September quarter. Economists say growth slowed in the fourth quarter largely because they believe the pace of inventory restocking slowed following the third-quarter surge.
