US DATA: Nov business inventories +0.2% vs +0.7% expected, as retail inv
were flat and +0.2% excluding the -0.8% in retail motor vehicle inv.
Total inventories ex. retail auto +0.3% based on MNI calc. Business
sales +1.2% in Nov, putting the inv/sales ratio at 1.25 vs 1.27 in Oct
and 1.27 a year ago. NSA sales +10.6% yr/yr, and inv +6.9% yr/yr.
Factory inventories were already reported +0.8% for the month while
wholesale inventories -0.2%.