Financial News: U.S. Business Inventories Increase In Line With Estimates

U.S. Business Inventories Increase In Line With Estimates In September

11/15/2023 - 10:26:00 (RTTNews)

(RTTNews) - Business inventories in the U.S. rose in line with economist estimates in the month of September, according to a report released by the Commerce Department on Wednesday.

The report said business inventories climbed by 0.4 percent in September, matching the increase seen in August as well as expectations.

Retail inventories advanced by 0.9 percent during the month, while manufacturing and wholesale inventories both edged up by 0.2 percent.

The Commerce Department also said business sales jumped by 1.1 percent in September after surging by 1.4 percent in August.

Wholesale sales led the way higher, spiking by 2.2 percent, while retail sales climbed by 0.8 percent and manufacturing sales rose by 0.4 percent.

With sales increasing by much more than inventories, the total business inventories/sales ratio slipped to 1.36 in September from 1.37 in August.

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