Business inventories rise 0.7% in October

Inventories at U.S. businesses rose 0.7% in October, below expectations and slower than the 1.4% increase in monthly sales, the Commerce Department reported Tuesday

As a result, the inventory-to-sales ratio fell to 1.27, down from a reading of 1.28 in September.

Wall Street economists had predicted October’s inventories would increase 0.8%. See MarketWatch economic calendar.

The gain in sales, meanwhile, marked the largest increase since March.

The monthly inventories report rarely moves financial markets, mostly because many of the numbers have been previously reported. Economists, however, find the data useful to project quarterly growth.

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- Posted: 2010-12-14 10:42:04

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