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US business inventories rise in September
[WASHINGTON] US business inventories rose a bit more than expected in September but the government also revised slightly downward its estimate for August's gains, suggesting little impact on views for economic growth in the third quarter.
The Commerce Department said on Friday inventories increased 0.3 per cent. Economists polled by Reuters had forecast inventories, which are a key component of gross domestic product changes, climbing 0.2 per cent.
Retail inventories excluding autos, which go into the calculation of GDP, rose 0.2 per cent in September.
Business sales were flat during the month, and at September's sales pace it would take 1.3 months for businesses to clear shelves, unchanged from August.