WASHINGTON — Sales of merchant wholesalers were $406 billion, up 0.9% in October, following a revised 0.3% gain in September, the Commerce Department reported Thursday.
October sales were up 13.1% from year-ago levels. The 0.9% gain in sales for the month was much higher than the median 0.5% increase projected by economists polled by Thomson Reuters.
Inventories were $470.2 billion, up 1.6% for the month after being revised to a flat level from August to September.
The October increase was the highest since May, when inventories were up 1.7%.
The October level of inventories was up 10.9% from a year ago. The 1.6% gain for the month was much higher than the median 0.3% increase estimated by economists.
