The Commerce Department announced on Friday that business inventories edged up 0.1 percent m-o-m in December, following an unrevised 0.2 m-o-m drop in November.

That was in line with economists' forecast for a 0.1 percent m-o-m increase.

According to the report, stocks at manufacturers rose 0.5 percent m-o-m in December, while retail inventories remained unchanged m-o-m, and stocks at wholesalers fell 0.2 percent m-o-m and.

In y-o-y terms, business inventories increased 2.2 percent in December.