*U.S. Dec Business Inventories -0.4%; Sales Unchanged
*U.S. Dec Inventory/Sales Ratio At 1.39; Nov At 1.39
*U.S. Dec Retailer Inventories -0.1%; Autos +0.1%
*U.S. Nov Business Inventories Revised To -1.2% From -0.1%
Washington, Feb. 14 (ODJ) U.S. business inventories fell 0.4% in December, the eleventh consecutive decline, the Commerce Department reported Thursday. Analysts expected inventories to not grow this month, but projected a 0.5% decrease. Meanwhile, business sales was unchanged from November.
Stock reductions and slow factory activity left December's inventory- to-sales ratio at 1.39, the same ratio reported for November.
Retail inventories, which provide a final snapshot of the U.S inventory activity for the month, fell 0.1%, while factory inventories shrunk 0.6% (Story 4733). Wholesales inventories, at the same time fell 0.6% (Story 4708).
WHAT WAS EXPECTED:
In a survey of 20 economists by OsterDowJones, the spread of estimates for December business inventories ranged from down 0.8% to down 0.1%.
AUTO RETAIL SECTOR
Retail automotive stocks rose 0.1% in December, while excluding autos slipped 0.2%.
STOCK-TO-SALES RATIO
Retailers' inventories/sales ratio increased to 1.48 in December from 1.48 the previous month.
Factory inventories/sales ratio fell to 1.37 versus 1.39 from November.