With an increase in inventories of durable goods more than offsetting a drop in inventories of non-durable goods, the Commerce Department released a report on Friday showing U.S. wholesale inventories rose by slightly more than anticipated in the month of September.
The Commerce Department said wholesale inventories climbed by 0.4 percent in September after jumping by 0.9 percent in August. Economists had expected inventories to rise by 0.3 percent.
The bigger than expected increase in wholesale inventories came as inventories of durable goods advanced by 0.8 percent in September after jumping by 1.0 percent in August.
Inventories of computer equipment, automotive products, and metals showed significant increases during the month.
Meanwhile, the report said inventories of non-durable goods fell by 0.4 percent in September after climbing by 0.8 percent in August.
A spike in inventories of petroleum products was more than offset by notable decreases in inventories of farm products, drugs, and miscellaneous non-durable goods.
The Commerce Department also said wholesale sales edged up by 0.2 percent in September following a 0.7 percent increase in August.
While sale of durable goods came in unchanged in September after surging up by 1.1 percent in August, sales of non-durable goods rose by 0.3 percent for the second straight month.
With wholesale inventories and sales both rising, the inventories/sales ratio for merchant wholesalers for September was unchanged from the previous month at 1.26.