Sales at U.S. wholesalers increased in October for the seventh consecutive month, and inventories rose for the first time since August 2008 -- encouraging signs of economic health.
Wholesalers in industries, including autos, grocers and electronics, saw sales rise 1.2 percent overall in October from a month earlier to a seasonally adjusted $326.2bn, the Commerce Department said in its latest report. Sales at wholesalers remain down by nearly 10 percent from October 2008.
The report also showed a 0.3 percent increase in wholesale inventory levels to $379.6bn after 13 straight monthly declines, a sign that after months of paring inventories to match slumping customer demand, businesses finally see a need to restock.
