US wholesale inventories go up

Washington, Nov 10: US inventories at the wholesale level registered a solid month-on-month increase in September, while wholesale sales also gained momentum, the US Department of Commerce’s figures revealed.

Inventories at the wholesale level added 1.1 percent in September from August to $494.2 billion, or up 7.5 percent from a year ago, reported Xinhua.

Sales at the wholesale level rose 2 percent in September from August to $414 billion, and were up 4.4 percent from a year earlier.

Economists noted that the US wholesale inventories and sales growth in recent months were fresh evidence of the economy’s ongoing recovery, as personal consumption accounted for about 70 percent of the total economic activity in the world’s largest economy.

IANS