The
Commerce Department announced on Wednesday the U.S. wholesale inventories soared
1.4 percent m-o-m in September, above the preliminary estimate of a 1.1 percent
m-o-m gain. This was the largest monthly gain since January.
Economists
had forecast the reading to stay unrevised at 1.1 percent m-o-m.
In
August, wholesale inventories jumped 1.3 percent m-o-m (revised from 1.2
percent).
According
to the report, durable goods inventories climbed 1.3 percent m-o-m in September,
while stocks of nondurable goods surged 1.6 percent m-o-m.
In
y-o-y terms, wholesale inventories soared 13.1 percent in September.