U.S. Wholesale Inventories Dip Slightly More Than Expected In September
2024-11-03
2748
(fxcue news) - The Commerce Department released a report on Thursday showing wholesale inventories in the U.S. fell by slightly more than expected in the month of September.
The report said wholesale inventories slipped by 0.2 percent in September after rising by 0.2 percent in August. Economists had expected wholesale inventories to edge down by 0.1 percent.
The modest decrease by wholesale inventories came as inventories of durable goods fell by 0.5 percent, more than offsetting a 0.3 percent increase by inventories of non-durable goods.
Meanwhile, the report said wholesale sales climbed by 0.3 percent in September after inching up by 0.2 percent in August.
Sales of durable goods increased by 0.4 percent during the month, while sales of non-durable goods rose by 0.2 percent.
With inventories dipping and sales rising, the inventories/sales ratio for merchant wholesalers edged down to 1.34 in September from 1.35 in August.
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