Washington, D.C. Businesses unexpectedly added to inventories at the wholesale level in October, breaking a record string of 13 straight declines.
Wholesale inventories rose 0.3% in October, the Commerce Department said Wednesday. Inventories dropped 0.8% in September.
Sales at the wholesale level rose 1.2% in October, also stronger than the 0.7% rise economists expected. It followed a 1.3% increase in September and marked the seventh straight month that sales at the wholesale level have risen.
Steadily rising sales should help encourage businesses to re-stock shelves, boost production and bolster a broad recovery.