US wholesale inventories up 0.4%

US wholesale inventories rose in line with market expectations in September while sales continued to rise, the U.S. Commerce Department reported on Friday. Inventories at the wholesale level rose 0.4 percent in September from the prior month to 506.3 billion U.S. dollars, also 2.2 percent higher than the year-ago level. Sales at the wholesale level also increased 0.6 percent to 430. 5 billion dollars in September, 3.9 percent higher than a year ago. Much of the strength in the third-quarter growth came from business restocking, noted the department. Economists believe that wholesale sales increase is a good sign for the U.S. economic recovery, as personal consumption accounts for about 70 percent of the total economic activity in the country.