HEADLINES FOR BUSINESS INVENTORIES
--US Oct business inventories dn 1.4%, a record low
--US Oct business sales up 2.7%, a record high
--US Oct inventory/sales ratio at 1.39; Sep 1.45
--US Oct retailer inventories dn 2.8%, a record low
--US Oct retailer autos inventory dn 8.9%, a record low
--US Sep business inventories revised to dn 0.6% from dn 0.5%

By Sandi Alexander
Washington, Dec. 14 (FWN) U.S. business inventories dropped a record low of 1.4% in October, the Commerce Department reported Friday. This was the ninth consecutive decline in inventories and was far below the consensus estimate for a 0.5% decrease. Meanwhile, business sales rose a record high of 2.7%.
October's inventory-to-sales ratio decreased to 1.39 up from the unrevised 1.45 in September.
Retail inventories, which provide a final snapshot of the U.S inventory activity for the month, fell 2.8%, while factory inventories shrunk 0.4% . Wholesales inventories, at the same time fell 1.0% .

WHAT WAS EXPECTED
In a survey of 20 economists by Futures World News, the spread of estimates for October business inventories ranged from down 2.5% to down 0.1%.
AUTO RETAIL SECTOR
Retail automotive stocks fell a record low of 8.9% in October, while excluding autos were unchanged.
STOCK-TO-SALES RATIO
Retailers' inventories/sales ratio decreased to 1.45 in October from 1.59 the previous month.
Factory inventories/sales ratio fell to 1.40 versus 1.43 from September.