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US August wholesale inventories revised lower
WASHINGTON: US wholesale inventories increased less than initially thought in August as strong demand boosted sales, government data showed on Thursday. Stocks at wholesalers rose by a downwardly revised 0.5 percent, the Commerce Department’s Census Bureau said. Inventories, a key part of gross domestic product, were previously reported to have increased 0.7 percent in August. They surged 1.4 percent in July. Inventories advanced 6.4 percent on a year-over-year basis in August. Durable goods inventories at wholesalers rose 0.8 percent, but stocks of nondurable were unchanged, with petroleum de...
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