WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Monday showed a modest rebound by wholesale inventories in the U.S. in the month of October.
The Commerce Department said wholesale inventories rose by 0.2 percent in October after slipping by 0.2 percent in September. The uptick matched economist estimates.
The modest increase by wholesale inventories came as inventories of durable goods crept up by 0.1 percent and inventories of non-durable goods climbed by 0.3 percent.
Meanwhile, the report said wholesale sales edged down by 0.1 percent in October after rising by 0.5 percent in September.
While sales of durable goods were unchanged compared to the previous month, sales of non-durable goods fell by 0.3 percent.
Even with inventories rising and sales slipping, the inventories/sales ratio for merchant wholesalers for October was unchanged from September at 1.34.
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