Wholesale inventories gain more than expected in October

 

• October Wholesale Inventories (second estimate): +1.1% vs. +0.9% consensus and 0.9% in September.
• On a Y/Y  basis, total inventories are down 2.2%.
• October 2020 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $496.6B, up 1.8% from the revised September level and were up 0.9% from the revised October 2019 level.