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America   Sales rising and inventories falling

U.S. wholesale inventories drop more than expected in October

wholesale inventoriesA report by the Commerce Department showed wholesale inventories in the U.S. decreased by more than expected in October.

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The report said wholesale inventories fell by 0.5% in October after inching up by a downwardly revised 0.1% in September.

Economists had expected inventories to edge down by 0.1% compared to the 0.3% increase originally reported for the previous month.

The bigger than expected decrease was primarily due to a steep drop in inventories of non-durable goods, which tumbled by 1.3%.

Inventories of farm products, drugs, and miscellaneous non-durable goods showed notable decreases during the month.

On the other hand, the report said inventories of durable goods ticked up by 0.1%, reflecting a sharp jump in metal inventories.

The Commerce Department also said wholesale sales increased by 0.7% in October after surging up by 1.4% in September.

Sales of durable goods jumped by 1.3% during the month, while sales of non-durable goods edged up by 0.2%.

With sales rising and inventories falling, the inventories/sales ratio for merchant wholesalers dipped to 1.25 in October from 1.26 in September.

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