Wholesale Inventories Rise; Sales Decline

December 11, 2006 2:30 PM, EST

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.S. wholesale inventories rose 0.8% in October as sales posted their first consecutive declines in more than three years, the Commerce Department said Monday.

The increase followed 0.7% gain in September, Commerce said. Economists expected inventories to rise 0.6%, Bloomberg reported.

Wholesale sales fell 0.5% in October following a 1.5% decline in September, Commerce said.

Stockpiles of durable goods, including computers and imported automobiles, rose 0.7%, while sales of those goods fell 0.4%.

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

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