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US wholesale inventories rise 0.1 per cent

Wednesday, November 9, 2016 - 23:12

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US wholesale inventories in September rose slightly less than previously reported, the Commerce Department said on Wednesday.

[WASHINGTON] US wholesale inventories in September rose slightly less than previously reported, the Commerce Department said on Wednesday.

Inventories edged up 0.1 per cent during the month, the department said.

The department's monthly advance economic indicators report published last month had estimated that wholesale inventories rose 0.2 per cent in September, as did economists polled by Reuters.

The component of wholesale inventories that goes into the calculation of GDP - wholesale stocks excluding autos - increased 0.4 per cent in September.

Inventory investment added 0.61 percentage point to economic growth in the third quarter after having dragged heavily on growth in the April-June period.

Sales at wholesalers rose 0.2 per cent in September.

At September's sales pace it would take wholesalers 1.33 months to clear shelves, unchanged from August.

REUTERS

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