Wholesalers Boost Inventories by Most Since May

Thursday, 08 Dec 2011 10:11 AM

 

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Wholesale companies increased their stockpiles of autos, paper, and other goods in October by the most in five months, a sign they expect consumer demand to rise.

The Commerce Department says wholesale inventories grew 1.6 percent, the most since May. Rising stockpiles of nondurable goods, such as paper and petroleum, drove the increase.

September's figure was also revised to show that inventories were unchanged, up from last month's estimate of a 0.1 percent decline.

The report also showed that wholesale sales increased 0.9 percent, after a 0.3 percent increase in September.

When companies build up their inventories, it usually signals that they expect more sales. And the extra factory production needed to increase stockpiles boosts economic output.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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