The preliminary report came in at -0.4%

The US wholesale inventories for October came in at -0.4%.

  • October inventories of durable goods were down 0.3 percent (+/-0.4%)* from last month and were down 2.2 percent (+/-1.4%) from a year ago.
  • Inventories of metals and minerals, except petroleum were down 1.0 percent from last month,
  • furniture and home furnishings were up 1.6 percent.
  • Inventories of nondurable goods were down 0.4 percent (+/-0.7%)* from September, but were up 2.5 percent (+/-2.1%) from last October.
  • Inventories of drugs and druggists' sundries were down 3.2 percent from last month,
  • inventories of petroleum and petroleum products were up 1.9 percent.

Wholesale trade sales higher at 1.4% vs +0.7% estimate. The prior month was revised to +0.4% from +0.2%.

  • October sales of durable goods were up 1.1 percent (+/-0.7%) from last month and were up 2.5 percent (+/-1.4%) from a year ago.
  • Sales of electrical and electronic goods were up 2.2 percent from last month
  • sales of metals and minerals, except petroleum were up 2.0 percent.
  • Sales of nondurable goods were up 1.6 percent (+/-0.9%) from September and were up 1.9 percent (+/-1.4%) from last October.
  • Sales of farm product raw materials were up 8.3 percent from last month
  • sales of petroleum and petroleum products were up 6.6 percent.

The Inventory to sales ratio was 1.3 months vs 1.33 months in the September reading. That ratio is the lowest since early 2015.