The Commerce
Department reported on Monday its final estimates showed that the U.S.
wholesale inventories rose 0.2 per cent m-o-m in October, matching the preliminary estimate of a 0.2 per cent m-o-m advance.
Economists had expected
the reading to remain unrevised at +0.2 per cent m-o-m.
In September,
wholesale inventories dropped by 0.2
per cent m-o-m. That was the first monthly decrease in six
months.
According to
the report, durable goods
inventories inched up 0.1 per cent m-o-m in October, as increases in the Furniture
(+2.7 per cent m-o-m), Professional equipment (+2.6 per cent m-o-m), Lumber (+0.6
per cent m-o-m), and Metals (+0.2 per cent m-o-m) businesses offset declines in
the remaining 5 other durable industries. Meanwhile,
stocks of nondurable goods advanced 0.3 per cent m-o-m, as gains in Groceries (+1.6
per cent m-o-m), Drugs (+1.1 per cent m-o-m), Miscellaneous Nondurables (+0.7
per cent m-o-m), Paper (+0.5 per cent m-o-m), and Apparel (+0.3 per cent m-o-m)
more than offset declines in the remaining 4 nondurable businesses.
In y-o-y terms, wholesale inventories jumped 0.9
per cent in October.