Business Inventories Edge Up By 0.2% In October

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Total business inventories showed a modest increase in the month of October, the Commerce Department revealed in a report released Friday morning, with the unexpected growth marking the first increase in inventories in over a year.

The report showed that business inventories edged up by 0.2 percent in October following a revised 0.5 percent decrease in September. The increase surprised economists, who had expected inventories to slip by 0.2 percent compared to the 0.4 percent drop originally reported for the previous month.

With the modest increase in October, business inventories rose for the first time since a 0.1 percent increase in August of 2008.

Total business inventories showed a modest increase in the month of October, the Commerce Department revealed in a report released Friday morning, with the unexpected growth marking the first increase in inventories in over a year. (Market News Provided by RTTNews)