Forex News

US wholesale stocks rose in August more than forecast

A report by the Department of Commerce on Wednesday showed an increase in US wholesale stocks in August, more than the forecast. p>

The Ministry of Commerce reported that wholesale inventories rose 1.0 percent in August against a rise of 0.6 percent in July. Economists had expected wholesale inventories to increase by 0.8 percent. P>

The increase in the volume of wholesale stocks more than the forecast occurred as stocks of non-food items increased by 1.2 percent against the background of a significant increase in stocks of agricultural products, chemicals and drugs. p>

Stocks of durable goods also increased by 0.9 percent, which partially reflects a 3.5 percent surge in stocks of automotive products. p>

The Ministry of Commerce also reported that wholesale sales in August rose by 0.8 percent, accelerating after a rise of 0.2 percent in July. p>

Sales of durable goods jumped 1.3 percent against the backdrop of a sharp increase in sales of computer equipment, professional equipment and metals. p>

The report also states that sales of non-durable goods increased by 0.5 percent, as a significant increase in sales of clothing and various durable goods was partially offset by a sharp drop in sales of agricultural products. p>

Against the background of growth in inventories and sales, the stock / sales ratio for wholesalers did not change from the previous month and remained at 1.26. p>