US business inventories flat in October

Inventories at US businesses were flat in October following a 0.1% rise the previous month, according the figures released by the US Commerce Department.

Economists had been expecting inventories to nudge 0.1% higher.

Excluding autos, business inventories were up 0.4% following an unrevised 0.5% increase in September.

Business sales, meanwhile, slipped 0.2% percent in October after an unchanged reading the previous month.