Shawshank, VA 10/7/2011 (PennyPayDay) – The August reading of the Wholesale Inventories was two tenths less than expected at +0.4%.The increase in inventories was impacted by the Automotive sector which saw a monthly gain of 4.5%. Petroleum inventories were down on the month and the overall number without this sector was +0.6% on the month.
Wholesale Sales rose 1.0% on the month; this was also the result of the Automotive sector, +2.6% for August. Sales of non-durable goods thought were down 0.1% month on month, the fourth decline in a row for this sector, which has been affected by the decline in the price of petroleum.
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