Quantcast
News

October Business Inventories Gain 0.4%; Sales Slip 0.4%

WASHINGTON — Business inventories edged up 0.4% to $1,619.2 billion in October, while sales fell 0.4% to $1,257.7 billion, the Commerce Department reported Thursday.

The October inventory gain followed an unrevised 0.7% uptick in September. The increase slightly surpassed the expectations of economists polled by Thomson Reuters, who predicted a 0.3% gain. Inventories climbed 5.7% over the same month in 2011.

The drop in October sales followed a revised 1.2% increase in September, originally reported as a 1.4% gain. October sales were 3.1% above sales for the same month in 2011. The month-to-month sales decline was the largest since a 1.2% drop in June.

The total business inventories/sales ratio based on a seasonally adjusted basis at the end of October was 1.29, slightly above the previous month's unrevised ratio of 1.28, and above the 1.26 October 2011 ratio.

JOIN THE DISCUSSION

SEE MORE IN

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Upcoming Events

Already a subscriber? Log in here
Please note you must now log in with your email address and password.