Inventories at US wholesalers unexpectedly dropped in December, indicating distributors had trouble keeping up with demand.

Sales: The US Census Bureau announced today that December 2009 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $341.2 billion, up 0.8% from the revised November level and were up 5.7% from the December 2008 level. The November preliminary estimate was revised upward $0.9 billion or 0.3%. December sales of durable goods were up 3.0% from last month and were up 2.3% from a year ago. Compared to last month, sales of machinery, equipment, and supplies were up 7.5% and sales of metals and minerals, except petroleum, were up 5.7%. Sales of nondurable goods were down 0.8% from last month, but were up 8.8% from last year. Sales of farm product raw materials were down 14.1% and sales of drugs and druggists' sundries were down 3.3% from last month.

Inventories: Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $383.6 billion at the end of December, down 0.8% from the revised November level and were down 10.2% from a year ago. The November preliminary estimate was revised upward $0.4 billion or 0.1%. End-of-month inventories of durable goods were down 1.1%  from last month and were down 15.9% from last December.

Inventories of metals and minerals, except petroleum, were down 3.1% from last month and inventories of motor vehicle and motor vehicle parts and supplies were down 2.5%. End-of-month inventories of nondurable goods decreased 0.3% from November and were down 0.2% compared to last December. Inventories of farm product raw materials were down 4.5% from last month, while inventories of petroleum and petroleum products were up 3.6%.

Inventories/Sales Ratio: The December inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.12. The December 2008 ratio was 1.32.

D&B to "establish" operations in Dublin; Has been based in Dublin for decades

Tánaiste and Minister for Enterprise, Trade and Employment, Mary Coughlan T.D. today announced that D&B, formerly known as Dun & Bradstreet, a provider of business data, including credit reports, is to establish a business operations centre in Dublin, initially creating up to 100 "high skilled new positions" by the middle of next year. This investment is being facilitated by the Irish Government through IDA Ireland.

Making the announcement the Coughlan said: “I am delighted to announce the establishment of D&B’s centre in Ireland. This highly sophisticated operation is in line with the Government’s continuing efforts to position Ireland as the leading European location-of-choice for innovation-led and knowledge-based global investments. D&B is a highly reputable company and its decision to locate in Dublin is a clear endorsement of Ireland’s global reputation in the international business services sector”.

D&B’s Dublin-based operation will serve customers through a range of technology and operations functions. The centre will be responsible for the collection and processing of data on subject companies. As part of its ongoing commitment to customer satisfaction, D&B will in-source operations roles from existing off-shore arrangements. Many of these roles will be filled in Dublin.

Commenting on the announcement, Barry O’Leary, CEO of IDA Ireland said: “D&B is the world leader in quality business information services and its reputation within the business community is second to none. Its decision to choose Ireland for this strategically important and knowledge-driven activity is very significant for Dublin and the country as a whole. It is a tremendous addition to our global business services base.”

D&B will commence initial recruitment over the coming months, and has appointed Premier Group as its Dublin recruitment partner. The company has secured office space at Sandyford, which will allow the flexibility for further expansion as additional business opportunities are identified.

Mary Coughlan and  Barry O’Leary may not be aware that Dun & Bradstreet has been operating in Dublin for decades under its own name.

Discussing continued jitters surrounding sovereign credit, with CNBC's David Faber and Jeffrey Rosenberg, Bank of America Securities: