U.S. wholesale inventories surged in October

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The level of U.S. inventories – products waiting to be sold – climbed 2.3% in October as companies sought to stock up ahead of the holidays. Businesses have had trouble keeping inventories on hand because of strong sales and big delays at U.S. ports that are keeping goods from getting to where they are needed. The delays are likely to persist for some time to come. Sales in the month rose 2.2%. The inventory-to-sale ratio increased sharply to 1.31 from 1.22 The ratio reflects how long it would take a company to sell all the goods sitting on warehouse shelves. The increase in October indicates that companies made some progress in stocking up.

This article was originally published by Marketwatch.com. Read the original article here.

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