US Wholesale Inventories Rose 0.4% in September
U.S. wholesale inventories rose in September from August, continuing a recent streak of gains, according to the Commerce Department’s latest report. Here are the key takeaways from Friday’s release:
–Wholesale inventories rose a seasonally adjusted 0.4% in September from a month earlier. That exceeded economists’ expectations for a 0.3% rise, according to a survey by The Wall Street Journal.
–Inventories have risen for several months in a row and contributed positively to U.S. gross domestic product during the third quarter.
–Sales were up 7.8% in September from a year earlier.
–The ratio of inventories to sales–a measure of how heavily stocked companies are–was 1.26 in September, the same level as in August.
Source: Dow Jones