US business inventories rise 0.4% in September

By Ovunc Kutlu

ANKARA (AA) – Business inventories in the US rose 0.4% to $2.46 trillion in September, missing projections, according to Commerce Department figures released Wednesday.

While the expectation was a gain of 0.5%, business inventories, which measure the change in the worth of unsold goods held by manufacturers, wholesalers and retailers, showed a gain of 0.9% in August.

Business inventories increased 17.8% in September, compared to the same month last year.

An increase in inventories indicate there is a lack of consumer demand as the Federal Reserve has entered an aggressive monetary tightening cycle to fight record inflation.