Wholesale inventories declined 0.2 percent in the second estimate for November, unchanged from the first estimate. Durable inventories were unchanged; details include a 1.1 percent draw for autos following a 0.4 percent draw in October; machinery inventories rose 1.3 percent on top of October's 0.6 percent rise. Wholesale inventories in October fell 0.4 percent.

The first estimate for November wholesale sales shows no change in November following a 1.5 percent decline in October. Sales of durables rose 0.3 percent including a 2.2 percent rise for autos; sales of nondurables fell 0.3 percent.

The second estimate for November wholesale inventories is a 0.1 percent draw versus a 0.2 percent draw in the first estimate.

Wholesale trade measures the dollar value of sales made and inventories held by merchant wholesalers. It is a component of business sales and inventories.

Investors need to monitor the economy closely because it usually dictates how various types of investments will perform. The stock market likes to see healthy economic growth because that translates to higher corporate profits. The bond market prefers a slower rate of growth that won't lead to inflationary pressures. Wholesale sales and inventory data give investors a chance to look below the surface of the visible consumer economy. Activity at the wholesale level can be a precursor for consumer trends. In particular, by looking at the ratio of inventories to sales, investors can see how fast production will grow in coming months. For example, if inventory growth lags sales growth, then manufacturers will need to boost production lest product shortages occur. On the other hand, if unintended inventory accumulation occurs (i.e. sales did not meet expectations), then production will probably have to slow while those inventories are worked down. In this manner, the inventory data provide a valuable forward-looking tool for tracking the economy.