Wholesale Inventories Increase 1.5%

Wholesale inventories rose 1.5% in September, the Commerce Department said Tuesday.

The increase followed a revised 1.2% jump in August that was originally reported as an 0.8% increase.

Economists had forecast September inventories to rise 0.7%, Bloomberg reported.

Wholesale sales rose 0.4% to the highest level since September 2008.

Stockpiles of durable goods that are meant to last at least several years rose 0.7%, led by automobiles, machinery and electrical equipment.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.