The Commerce Department announced on Friday the U.S. wholesale inventories edged down 0.1 percent m-o-m in November after a revised 0.1 percent m-o-m increase in October (originally flat m-o-m).

Economists had forecast wholesale inventories growing 0.1 percent m-o-m in November.

On a y-o-y basis, wholesale inventories surged 3.3 percent.

According to the report, wholesale auto stocks fell 1.1 percent m-o-m in November, following a 0.5percent m-o-m drop in the previous month. Apparel inventories decreased 0.4 percent m-o-m, after declining 1.6 percent m-o-m in October. In addition, decreases were also recorded in machinery, furniture and computer equipment inventories. Meanwhile, petroleum inventories rose 0.6 percent m-o-m in November, following a 3.5 percent m-o-m tumble in the previous month.