U.S. Wholesale Inventories Unexpectedly Rise 0.4% In September
A report released by the Commerce Department on Friday showed an unexpected increase in U.S. wholesale inventories in the month of September.
The Commerce Department said wholesale inventories rose by 0.4 percent in September after climbing by 0.5 percent in August. Economists had expected inventories to edge down by 0.1 percent.
The unexpected increase in wholesale inventories came as inventories of non-durable goods advanced by 0.7 percent, while inventories of durable goods inched up by 0.1 percent.
Meanwhile, the report said wholesale sales crept up by 0.1 percent in September after jumping by 1.2 percent in August.
A 0.7 percent increase in sales of durable goods was partly offset by a 0.5 percent decrease in sales of non-durable goods.
The inventories/sales ratio for merchant wholesalers subsequently came in at 1.31 in September, unchanged from the previous month.
The material has been provided by InstaForex Company – www.instaforex.com