| Wholesale inventories in the U.S. increased by much more than expected in the month of September, according to a report released by the Commerce Department on Thursday. The Commerce Department said wholesale inventories climbed by 0.5 percent in September after edging down by a revised 0.1 percent in August. The much bigger than expected increase by wholesale inventories came as inventories of non-durable goods grew by 0.7 percent, while inventories of durable goods rose by 0.3 percent. Meanwhile, the report said wholesale sales slipped by 0.2 percent in September, matching a revised dip in August. Sales of durable goods fell by 0.4 percent during the month, more than offsetting a 0.1 percent uptick in sales of non-durable goods. With inventories climbing and sales falling, the inventories/sales ratio for merchant wholesalers crept up to 1.29 in September from 1.28 in August. Powered by Commodity Insights |