U.S. Wholesale Inventories Increase Less Than Expected In September
(RTTNews) - Wholesale inventories in the U.S. increased by less than expected in the month of September, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said wholesale inventories rose by 0.6 percent in September after surging by an upwardly revised 1.4 percent in August.
Economists had expected wholesale inventories to climb by 0.8 percent compared to the 1.3 percent jump originally reported for the previous month.
The report showed inventories of durable goods increased by 0.8 percent, while inventories of non-durable goods inched up by 0.1 percent.
Meanwhile, the report showed wholesale sales rose by 0.4 percent in September after coming in unchanged in August.
Sales of durable goods climbed by 0.7 percent during the month, while sales of non-durable goods crept up by 0.1 percent.
With inventories and sales both increasing, the inventories/sales ratio for merchant wholesalers was unchanged from the previous month at 1.31.
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