A Commerce Department report on Thursday showed wholesale inventories in the United States increased in the month of October.
Source: US Department of Commerce
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The Commerce Department stated that wholesale inventories increased by 2.3% after increasing by 1.4% in September.
The increase in wholesale inventories comes as inventories of durable goods and non-durable goods increased by 2.1% and 2.6%, respectively.
Sales of durable goods increased by 1.4% in October after only increasing by 0.1% in September. In the same period, the sales of non-durable goods edged down slightly to increase by 3.0% after rising by 3.2% in September.
The report also showed an increase in the total wholesale sales that increased by 2.2 per cent in October after increasing by 1.7 per cent in September.
With the increase in both inventories and sales, the inventory/sales ratio for wholesalers remained the same at 1.22.