Wholesale Inventories Unchanged in October

Wholesale inventories were flat in October, while sales jumped 0.7%, the Commerce Department said Wednesday.

The inventory reading followed a 0.6% gain in September that was smaller than originally estimated.

Economists had forecast inventories would rise 0.5%, Bloomberg reported.

The rise in sales left the supplies on hand at a record low of 1.09 months, Bloomberg said.

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