Wholesale Inventories Rise Slower Than Last Estimate
The value of wholesale inventories rose 0.9% in August, a downward adjustment from the 1.0% gain estimated in the advance estimate, while wholesale sales rose 1.7%, data released Friday by the U.S. Commerce Department showed.
Looking ahead to business inventories report to be released on October 13, the tracking looks positive for both business inventories and business sales.
The addition of the 0.9% gain for wholesale inventories reported Friday indicates a 0.7% increase in business inventories when that data is released, assuming no revision to the 0.7% increase reported for retail inventories in the advance estimate.
On Thursday, factory inventories were reported up 0.4% for August.
With the rise in August wholesale inventories, but the larger increase in wholesale sales, the inventory/sales ratio fell to 1.28 from 1.29 in July, hitting its lowest since December 2014.