WASHINGTON (Reuters) - U.S. wholesale sales climbed at the sharpest rate in seven months during October and inventories kept rising strongly, according to a government report on Thursday that suggested optimism about a healthy holiday shopping season.
The Commerce Department said wholesale sales rose 2.2 percent to a seasonally adjusted $362.1 billion -- far ahead of Wall Street expectations - following a 0.5 percent September gain.
Inventories were up 1.9 percent in October to $427.1 billion after a 2.1 percent rise.
Economists surveyed by Reuters had predicted wholesale sales would rise modestly by 0.6 percent and that inventories would increase 0.9 percent.
The stronger -than-expected October inventory and sales data may imply that wholesalers were preparing for a strong sales season in the critical Thanksgiving-through-Christmas period when retail business typically picks up.
The inventory-to-sales ratio that measure how long it would take to deplete stocks at the current sales pace was unchanged at 1.18 months' worth in October.
(Reporting by Glenn Somerville, editing by W Simon )
Relacionados
- UPyD quiere que el Congreso deje claro a Batasuna que no basta un programa nuevo, sino que sus miembros renieguen de ETA
- Miembros del 'Comité de Liberación Melilla' despliegan una bandera de Marruecos ante la Delegación antes de huir
- El euro vuelve a apoyarse en las ayudas de los miembros de la UE
- Miembros de FIFA "furiosos" con prensa inglesa (presidente federación Japón)
- Defensa de la Sanidad Pública considera "un error evidente" que la UE recomiende el copago a sus países miembros