Business Inventories Rise in October
usiness inventories rose 0.3% in October following a 0.5% gain in September, the Commerce Department said Tuesday.
Sales rose 0.8%, reinforcing forecasts that companies will increase production in the coming months, Bloomberg reported.
Economists had expected inventories to rise 0.5%, Bloomberg said.
Inventories at retailers rose 0.1%, the smallest gain in three months, after a 0.8% increase the previous month, Commerce said.
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