Wholesale Inventories Rise by Most in Four Months
Wholesale inventories rose 0.7% in August, the largest increase in four months, after rising 0.1% the prior month, the Commerce Department reported Oct. 9.
The median estimate in a Bloomberg News survey of economists called for an advance of 0.3%. Inventories increased to $538 billion from $534.4 billion the prior month, according to Commerce.
Sales declined 0.7% after a 0.4% rise the prior month.
At August’s sales pace, it would take 1.19 months to clear shelves, the highest rate since February, Reuters reported.
Inventories excluding oil rose 0.7% in August.
Wholesale inventories account for about one-fourth of total business stockpiles. Retailers and factories account for the rest.