November 9, 2018 / 3:17 PM / 8 months ago

U.S. wholesale inventories rise more in September than initially estimated

WASHINGTON (Reuters) - The Commerce Department on Friday said wholesale inventories rose 0.4 percent in September, slightly faster than its initial estimate of a 0.3 percent increase.

Inventories rose 5.2 percent year-over-year as of September.

Inventories other than autos, a measure that goes into the calculation of gross domestic product growth, rose 0.2 percent in September.

With U.S. job and wage growth bolstering domestic demand, businesses are expected to boost stocks of goods, which could underpin production at factories.

In September, wholesale auto inventories rose 1.4 percent. Machinery inventories rose 0.7 percent and stocks of electrical products rose 0.9 percent. Petroleum inventories rose 5.0 percent.

Sales at wholesalers were up 0.2 percent in September after a 0.7 percent increase in August.

At September’s sales pace it would take wholesalers 1.26 months to clear shelves, unchanged from August.

Reporting by Jason Lange; Editing by Andrea Ricci

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