Business inventories in the U.S. increased in line with economist estimates in the month of September, according to a report released by the Commerce Department on Thursday.
The Commerce Department said business inventories rose by 0.3 percent in September after climbing by 0.5 percent in August. Economists had expected inventories to rise by 0.3 percent.
The increase in business inventories came as manufacturing and wholesale inventories climbed by 0.5 percent and 0.4 percent, respectively, while retail inventories inched up by 0.1 percent.
The report also said business sales advanced by 0.4 percent in September following a 0.5 percent increase in the previous month.
While manufacturing sales surged up by 0.9 percent during the month, retail and wholesale sales both rose by 0.2 percent.
With inventories and sales both rising, the total business inventories/sales ratio in September came in unchanged from August at 1.34. The ratio is down from 1.37 a year ago.
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