Wholesale Inventories Increase 1.9%

Wholesale inventories rose 1.9% in October, the Commerce Department said Thursday.

The increase followed a revised 2.1% jump in September that was originally reported as a 2.1% increase.

Economists had forecast October inventories to rise 0.8%, Bloomberg reported.

Wholesale sales jumped 2.2%, partly reflecting a gain in farm products, Bloomberg said.

Stockpiles of durable goods that are meant to last at least several years rose 0.9%, led by furniture, computer equipment and electrical goods and machinery.

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