Wholesale Inventories Climb in October

Washington, DC, Dec. 10, 2010 -- U.S. wholesale inventories rose more than expected in October, according to the Commerce Department.

The better-than-expected report from the U.S. Department of Commerce suggests that the economy is continuing its climb out of recession. 

Inventories rose 1.9 percent in October to $427.1 billion from September’s $419.3 billion.

Wholesale sales increased 2.2 percent in October, from $354.1 billion to $362.1 billion.

Inventories of durable goods, or long-lasting products, increased at a slower rate, up 0.9 percent, to $247.4 billion.  Durable good sales rose 0.5 percent to $164.7 billion.