The Commerce
Department announced on Tuesday that the U.S. business inventories edged up 0.1
per cent m-o-m in October, following a downwardly revised flat m-o-m performance (from +0.1 per cent m-o-m)
in September. This matched economists’ estimate of a 0.1 per cent m-o-m gain.
stocks at manufacturers
slipped 0.1 per cent m-o-m in October, while inventories
at merchant wholesalers rose 0.2 per cent m-o-m and those at retailers also increased
0.2 per cent m-o-m.
In y-o-y terms,
business inventories soared 2.4 per cent in October.