US Business Inventories Rise in October

Business inventories in the United States grew during October by 0.7%, after rising by 0.8% in September, data by the US Department of Commerce showed on Wednesday.

On an annual basis, inventories declined by 4% compared with their level in October 2019.

Retail inventories increased by 0.9% in October, up from an initially estimated 0.8%.

Meanwhile, motor vehicle inventories rose by 1%.

Retail inventories, excluding autos, went up by 0.8%.