Wholesale inventories rose in August

U.S. wholesale inventories rose by 0.5 percent from July to August to a seasonally adjusted $487.5 billion, the U.S. Census Bureau said Wednesday. Wholesale sales rose 0.9 percent to $405.4 billion in August, down 0.1 percent from a revised July level, and were up 2.1 percent above sales of August 2011, the Commerce Department agency said in a release. Sales of petroleum and petroleum products were up 5.6 percent as sales of non-durable goods rose 0.9 percent month-to-month and 3 percent over 12 months. August sales of durable goods were up 0.9 percent from the previous month, after dropping 0.8 percent in July. Durable goods sales were also up 1 percent from August 2011. Among durable goods, sales of vehicles rose 2 percent from July to August. The August inventories-to-sales ratio for wholesalers, seasonally adjusted, was 1.2, the bureau said. The August 2011 ratio was 1.17.