The
Commerce Department reported on Tuesday that the U.S. business inventories went
up 0.7 percent m-o-m in September, following an upwardly revised 0.8 percent
m-o-m gain in the previous month (from 0.6 percent m-o-m).
This
was in line with economists’ forecast for a 0.7 percent m-o-m advance and
marked the 14th consecutive monthly increase in business inventories.
The
overall advance was due to gains in inventories at wholesalers (+1.4 percent
m-o-m) and manufacturers (+0.8 percent m-o-m), which, however, were partially
offset by a decline in retailers’ stocks (-0.2 percent m-o-m).
In
y-o-y terms, business inventories soared 7.5 percent in September.