US wholesale inventories exceed forecasts

Inventories at US wholesalers rose 0.6 percent in September, twice the amount forecast by Wall Street, but stockpiles relative to sales dropped to their lowest level in more than a year, a government report showed on Wednesday.
The Commerce Department said it had not been able to quantify the impact of Hurricane Katrina on the data, but noted the affected areas accounted for a minimal share of the national wholesale activity. Inventories of durables goods, meant to last three years or more, rose 0.3 percent in September as gains in computer equipment and machinery offset declines in lumber and metals stocks. Auto inventories slipped 0.1 percent after a 1.3 percent fall in August.
September nondurable goods stockpiles rose 1.2 percent on higher inventories of petroleum, drugs, paper and groceries.