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Wholesale inventories exceed expectations in October

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U.S. wholesale inventories rose more than expected in October, showing little sign of businesses pulling back after they aggressively accumulated stock in the third quarter.

The Commerce Department said on Tuesday wholesale inventories increased 1.4 percent after a revised 0.5 percent rise in September.

Economists polled by Reuters had expected stocks at wholesalers to rise 0.3 percent In October after a previously reported 0.4 percent rise in September.

(Click here to track U.S. stock futures following the report.)

—By Reuters

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