Business Inventories Rise

Business inventories rose 0.4% in October as sales slowed, the Commerce Department said Wednesday.

The increase followed a 0.7% rise in September. Sales at factories, wholesalers and retailers declined 0.4%, the first downturn since June.

The October inventories gain matched economists’ median forecast, Bloomberg reported.

Factory inventories, which make up about two-fifths of the total, rose 0.1% and wholesale inventories, which make up about 30%, rose 0.6%.

 
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