Wholesale Inventories Rise in October

Wholesale inventories climbed 1.6% in October, the largest increase in five months, the Commerce Department said Thursday.

The inventories increase followed an unchanged reading in September that was higher than previously estimated.

The October increase surpassed economists’ median forecast of a 0.3% gain, Bloomberg reported.

Wholesale sales rose 0.9%, Commerce said.

Durable goods stockpiles rose 0.8%, led by automobiles, electrical equipment and metals, Bloomberg said.

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