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Tuesday
Nov092010

Commerce Dept: Wholesale Inventories, Sales Up in Sept.

Photo Courtesy - Getty Images(WASHINGTON) -- Inventories at the wholesale level rose for a ninth consecutive month in September, the Commerce Department said Tuesday. Sales were up for a third straight month.

While it’s positive news for the economy, Mesirow Financial chief economist Diane Swonk says inventories are not as large an economic factor as they once were.

“Inventories, although they're continuing to rise, the rise in inventories is no longer the tailwind it once was in supporting manufacturing activity and economic growth,” she said.

“We're still not seeing enough. What we're seeing is inventories that continue to grow, but at a slower pace,” Swonk said. “As they continue to do that, we'll see their additions to the U.S. economy wane.”

Copyright 2010 ABC News Radio

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