US wholesale inventories rise 0.7% in September, topping advance estimates

U.S. wholesale inventories grew 0.7% month-over-month in September to reach $1,013.1 billion, exceeding the advance estimate and market expectations of 0.6%, according to the U.S. Census Bureau. Wholesale inventories expanded 7.6% on an annual basis. The reading followed an upwardly revised 0.6% increase in August, previously estimated at 0.5%. Alongside inventory accumulation, wholesale sales surged 2.8% during September, accelerating from an upwardly revised 2.0% gain in August. The balanced growth in stockpiles and sales highlights resilient commercial demand and provides a modest boost to third-quarter GDP calculations.