U.S. Wholesale Inventories Climb More Than Expected In September
(RTTNews) - Wholesale inventories in the U.S. increased by more than expected in the month of September, according to a report released by the Commerce Department on Monday.
The Commerce Department said wholesale inventories climbed by 0.7 percent in September after rising by an upwardly revised 0.6 percent in August.
Economists had expected wholesale inventories to grow by 0.6 percent compared to the 0.5 percent increase originally reported for the previous month.
The report said inventories of durable goods rose by 0.6 percent in September after climbing by 0.9 percent in August, while inventories of non-durable goods grew by 0.9 percent in September after inching up by 0.1 percent in August.
Meanwhile, the Commerce Department said wholesale sales shot up by 2.8 percent in September after jumping by 2.0 percent in August.
Sales of durable goods jumped by 1.3 percent in September after surging by 2.4 percent in August, while sales of non-durable goods spiked by 4.4 percent in September after leaping by 1.5 percent in August.
With sales increasing by much more than inventories, the inventories/sales ratio for merchant wholesalers dipped to 1.21 in September from 1.23 in August.
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