The U.S. Commerce Department released the business inventories data on Friday. The U.S. business inventories rose 0.1% in December, in line with expectations, after a 0.1% decline in November. November's figure was revised up from a 0.2% drop.

Retail inventories climbed 0.4% in December, wholesale inventories were down 0.1%, while manufacturing inventories increased 0.4%.

Retail sales were flat in December, while business sales were down 0.6%.

The business inventories/sales ratio rose to 1.39 months in December from 1.38 months in November. The business inventories /sales ratio is a measure of how long it would take to clear shelves.