Wholesale inventories up; sales post gain

Wholesale inventories rose as expected in August while sales at wholesalers posted the first gain after three consecutive months of decline, according to government data released on Wednesday.

Total wholesale inventories advanced 0.5 percent to $487.5 billion, the Commerce Department said. Year-over-year, inventories were up 5.3 percent from August 2011.

Economists polled by Reuters had expected stocks of unsold goods at U.S. wholesalers to rise 0.5 percent after advancing by 0.6 percent in July, which was revised down from a previously reported 0.7 percent gain.

Read Full Article from Reuters

- Posted: 2012-10-10 13:37:18

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