U.S. Wholesale Inventories Rise 0.7% In August

U.S. wholesale inventories rose by 0.7% in August, the U.S. Commerce Department said Thursday. Inventories of durable goods, such as autos and machinery, rose 0.8%, while inventories of nondurable goods rose 0.5%. Wholesale sales fell 0.7%, following a 0.4% gain in July. At August's sales pace, the inventory-to-sales ratio rose to 1.19 from 1.17 in July. For July inventory growth was revised to 0.3% from a prior estimate of 0.1%.