US: Wholesale Inventories Growth Beats Estimates.

US wholesale inventories rose 0.7% month-on-month to $1,013.1 billion in September 2026, above the advance estimate of 0.6% and following an upwardly revised 0.6% increase in August. This marked the eighth consecutive monthly rise, signalling continued stock accumulation across the wholesale sector. Nondurable goods inventories increased 0.9%, accelerating from 0.1% in August, driven by petroleum (+10.6%), chemicals (+1.3%) and apparel (+2.6%). By contrast, farm product and alcohol inventories fell 7.4% and 1.8%, respectively. Durable goods inventories rose 0.6%, slowing from 0.9%, as gains in electrical goods (+2.5%) and hardware (+1.3%) outweighed declines in metal products (-0.9%) and automotive inventories (-0.5%). Compared with September last year, wholesale inventories increased 7.6%, also exceeding the initial estimate.