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US business inventories slip in October

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US business inventories slip in October

U.S. business inventories fell 0.1% to a seasonally adjusted $1.886 trillion in October, from the revised $1.887 trillion in September, but increased 3.5% year over year, the Census Bureau reported.

Sales rose 0.6% on a monthly basis to a seasonally adjusted $1.401 trillion in October and increased 6.5% from a year earlier.

The total business inventories-to-sales ratio was 1.35 at the end of October, compared to 1.39 in the same period of 2016.