UPDATED:
10/7/2011 10:30:00 AM
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Wholesale inventories rose 0.4% in August, the Commerce Department said Friday.
Wholesale sales rose 1% in August, the largest gain in five months, Commerce said.
The inventories gain, which followed a 0.8% increase in July, was below economists’ median forecast of a 0.6% gain, Bloomberg reported.
Durable goods stockpiles climbed 1.1% as automobile imports continued to rise.
Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.
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