{"id":123715,"date":"2021-12-09T17:08:45","date_gmt":"2021-12-09T17:08:45","guid":{"rendered":"https:\/\/fin2me.com\/?p=123715"},"modified":"2021-12-09T17:08:45","modified_gmt":"2021-12-09T17:08:45","slug":"u-s-october-wholesale-inventories-revised-slightly-higher","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/u-s-october-wholesale-inventories-revised-slightly-higher\/","title":{"rendered":"U.S. October wholesale inventories revised slightly higher"},"content":{"rendered":"
FILE PHOTO: An Amazon Robotics drive unit carries shelves of inventory at the Amazon fulfillment center in Kent, Washington, U.S., October 24, 2018. REUTERS\/Lindsey Wasson<\/figcaption>

WASHINGTON (Reuters) – U.S. wholesale inventories increased a bit more than initially thought in October, suggesting that the restocking of warehouses could again support economic growth this quarter.<\/p>\n

The Commerce Department said on Thursday that wholesale inventories accelerated 2.3%, instead of 2.2% as estimated last month. Stocks at wholesalers increased 1.4% in September.<\/p>\n

Economists polled by Reuters had expected inventories would be unrevised. Wholesale inventories jumped 14.4% in October from a year earlier.<\/p>\n

Motor vehicle inventories rebounded 2.3% after falling 1.5% in September. They continue to be constrained by a global shortage of semiconductors, which has hampered motor vehicle production.<\/p>\n

Inventories are a key part of gross domestic product. Wholesale inventories, excluding autos, advanced 2.3% in October. This component goes into the calculation of GDP.<\/p>\n

A moderate pace of inventory drawdown in the third quarter accounted for all of the 2.1% annualized rate of increase in GDP growth last quarter. Inventories were depleted in the first half of the year, and COVID-19 pandemic-related shortages are making it difficult to rebuild stocks.<\/p>\n

The urgent need to restock is keeping manufacturing humming. There are concerns from some economists that businesses wary of delays getting stock could over-order and end up with excess inventory, which could put the economic expansion in jeopardy.<\/p>\n

Sales at wholesalers increased 2.2% in October after rising 1.7% in September. At October\u2019s sales pace it would take wholesalers 1.22 months to clear shelves, unchanged from September.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FILE PHOTO: An Amazon Robotics drive unit carries shelves of inventory at the Amazon fulfillment center in Kent, Washington, U.S., October 24, 2018. 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