US DATA: Oct wholesale inv +1.6%, sales +0.9%, inv/sales ratio 1.16
vs 1.15 in Sept. Oct wholesale inventories ex. autos were +1.7% vs flat
in Sept, an MNI calc shows. Total nondurables inv +2.8% on farm
products, petro, and alcohol. Durables inv +0.8%, with autos +0.9%.
Sales +0.9%, with nondurables sales +1.7% on farm products, but durables
sales -0.1%. Factory inventories already reported +0.9%, so the outlook
for business inventory growth appears strongly positive pending the
retail inventories data when they are released.