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U.S. Business Inventories Increase In Line With Estimates In September
(RTTNews) - The Commerce Department released a report on Tuesday showing business inventories in the U.S. increased in line with economist estimates in the month of September.
The report said business inventories rose by 0.2 percent in September after coming in unchanged in August.
While manufacturing inventories edged down by 0.1 percent, retail and wholesale inventories grew by 0.4 percent and 0.5 percent, respectively.
Meanwhile, the Commerce Department said business sales came in unchanged for the second consecutive month.
Retail sales crept up by 0.1 percent, while manufacturing sales came in unchanged and wholesale sales dipped by 0.2 percent.
The report said the total business inventories/sales ratio came in at 1.37 in September, unchanged from the previous month.
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