ISTANBUL
Business inventories in the US rose 0.4% in September to reach $2,559.2 billion, according to Commerce Department figures released Wednesday.
The figure came in line with market expectations, while business inventories showed a 0.4% gain to $2,548.8 billion in August.
Business inventories, which measure the change in value of unsold goods held by manufacturers, wholesalers and retailers, were annually up 1.3% in September, compared to the same month of the previous year.
An increase in inventories indicates there is still a lack of consumer demand as a result of the Federal Reserve's aggressive monetary tightening to lower record inflation.
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