WASHINGTON - The value of wholesale inventories rose 1.4% in October while sales were up 1.0%, according to data released Monday morning by the U.S. Commerce Department.
Auto sales weighed down the headline build, dropping 4.5% in the month. Inventories excluding the autos category showed a 1.3% increase, according to an MNI calculation, after a 1.0% build in September.
The overall inventory-to-sales ratio held steady at 1.18 in October, but was still below the 1.22 the year before.
The value of durable inventories rose 0.4% in the month.
Nondurable inventories were up 3.0% in the month.
Durable sales were flat in the month.
Nondurable sales rose 1.8%.