Wholesale Inventories Rise in September
Wholesale inventories rose 0.5% in September, the Commerce Department reported Nov. 10.
The September rise in wholesale inventories to $588.1 billion, reflected a 1.9% jump in nondurable goods, the most since June, Bloomberg News reported.
The surge in nondurables was due to gains in drugs, apparel and farm products. Stockpiles of long-lasting durable goods dropped 0.4%, the most since May 2013.
The rise in inventories exceeded the 0.1% median forecast by economists.
August inventories were revised to a 0.3% gain from the previously reported 0.1%. The upwardly revised August increase suggest inventories subtracted less from GDP in the third quarter than first reported, according to Bloomberg.
Wholesale sales rose 0.5% in September after falling 0.9% the prior month, according to the Commerce Department.
Wholesale inventories account for about one-fourth of total business stockpiles. Retailers and factories account for the rest.
