The
Commerce Department reported on Wednesday that the U.S. business inventories surged
1.2 percent m-o-m in October, following an upwardly revised 0.8 percent m-o-m increase
(from 0.7 percent m-o-m) in the previous month.
This
was slightly above economists’ forecast for a 1.1 percent m-o-m jump and represented
the largest monthly advance since May 2011.
In
October, the biggest gain occurred in inventories at merchant wholesalers (+2.3
percent m-o-m). Manufacturers (+0.8 percent m-o-m) and retailers' (+0.1 percent
m-o-m) stocks also recorded increases in the reviewed period.
In
y-o-y terms, business inventories jumped 7.8 percent in October.