WASHINGTON, Feb 15 Reuters U.S. business inventories rebounded in December, driven by rising stocks at retailers and wholesalers.

Business inventories rose 0.4 after falling 0.1 in November, the Commerce Department39;s Census Bureau said on Thursday. The increase in inventories, a key component of gross domestic product, was in line with economists39; expectations. Inventories advanced 0.4 on a yearonyear basis in December.

Private inventory investment added 0.1 percentage point to the economy39;s 3.3 annualized growth pace in the fourth quarter after providing a large boost in the JulySeptember period.

Retail inventories increased 0.6 in December, instead of the 0.8 estimated in an advance report published last month. They were unchanged in November.

Motor vehicle inventories increased 1.3, rather than 1.2 as estimated last month. They rose 2.0 in November.

Retail inventories excluding autos, which go into the calculation of GDP, rebounded 0.4. They were previously reported to have advanced 0.6. They fell 0.8 in November.

Wholesale inventories rose 0.4, while stocks at manufacturers increased 0.1.

Business sales gained 0.4 in December after being unchanged in November. At Decembers39; sales pace, it would take 1.37 months for businesses to clear shelves, unchanged from November.

Reporting by Lucia Mutikani; Editing by Paul Simao

Source Reuters