Wholesale Inventories Rise; Sales Decline

.S. wholesale inventories rose 0.8% in October as sales posted their first consecutive declines in more than three years, the Commerce Department said Monday.

The increase followed 0.7% gain in September, Commerce said. Economists expected inventories to rise 0.6%, Bloomberg reported.

Wholesale sales fell 0.5% in October following a 1.5% decline in September, Commerce said.

Wholesale inventories account for about a fourth of total business stockpiles. Retailers and factories account for the rest.