US wholesale inventories fall 0.4% in October

By Ovunc Kutlu

ISTANBUL (AA) - US wholesale inventories decreased by 0.4% in October, compared to the previous month, according to Commerce Department figures released Thursday.

The figure, which measures the change in the total value of goods held in inventory by wholesalers, was at $897.1 billion at the end of October, it said in a statement.

The market expectation for wholesale inventories was to show a decline of 0.2% in October.

The figure for September stood at $900.3 billion, which was revised down to no percentage change, from a gain of 0.2%.

Annually, wholesale inventories in October were down 2.3% compared to the same month of last year.