The US Department of Commerce data released showed that the inventory of wholesale warehouses in the United States fell in October by more than expected.
The ministry said that the stock declined during last October by 0.4% after stabilizing during last September according to the revised data, while analysts had expected a decline of only 0.2%.
The decline in wholesale warehouse inventories came more than expected, with the inventory of non-durable goods falling by 1%, while the inventory of durable goods increased by 0.1%, during last October.
Data from the Ministry of Commerce also showed a sharp decline in wholesale sales in the United States during October by 1.3%, after rising by 2% over the previous month.
Sales of non-durable goods increased by 2%, while sales of durable goods decreased by 0.5% during the same month.
With the decline in inventories and rising sales, the inventory ratio for sales rose to 1.34 points in October compared to 1.33 in September.
