Total business inventories increased 0.2% (3.1% y/y) during October following a 0.1% September dip, revised from 0.0%. Total business sales eased 0.1% both m/m and y/y after a 0.4% September decline, revised from -0.2%. The inventory-to-sales (I/S) ratio held steady at 1.40 for the sixth consecutive month.

Retail inventories rose 0.3% (3.1% y/y) in October after a 0.1% uptick. Auto inventories declined 1.3% both m/m and y/y while nonauto inventories strengthened 0.7% (2.8% y/y). Inventories of furniture & home furnishings increased 1.8% (-3.5% y/y) following several months of decline. Clothing inventories eased 0.2% (-0.5% y/y) after falling 0.5%. General merchandise store inventories fell 0.2% (-0.9% y/y) after a 0.4% rise while department store inventories eased 0.2% (-7.4% y/y) after rising 0.5%. Wholesale inventories rose 0.1% (3.8% y/y) in October after falling 0.7%. Factory sector inventories improved 0.1% (2.4% y/y) after a 0.3% rise.

Retail sales increased 0.5% (3.0% y/y) in October and mostly reversed the September decline. Sales excluding autos rose 0.4% (2.4% y/y) and also reversed September's fall. Wholesale sector sales fell 0.7% (-1.4% y/y) after easing 0.1%, while shipments from the factory sector held steady (-1.5% y/y).

The inventory-to-sales ratio in the retail sector was unchanged at 1.45, but has been mostly falling since early this year. The non-auto retail I/S ratio also held steady at 1.19, and nearly matched its all-time low. The wholesale I/S ratio rose to 1.37 from 1.36 while the manufacturing I/S ratio held at 1.40.

The manufacturing and trade data are in Haver's USECON database.