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- U.S. wholesale inventories rises in line with estimates in April
U.S. wholesale inventories rises in line with estimates in April
Wholesale inventories in the U.S.
rose in line with economist estimates in the month of April,
according to a report released by the Commerce Department on
Tuesday.
The report said wholesale inventories edged up by 0.2 percent in April following a revised 0.3 percent increase in March. The modest growth matched economist estimates.
Inventories of durable goods increased by 0.2 percent, with a 1.9 percent jump in inventories of motor vehicles and parts offsetting a 1.1 percent drop in inventories of metals and minerals, except petroleum.
With inventories of beer, wine, and distilled alcoholic beverages surging up by 2.3 percent, inventories of non-durable goods inched up by 0.1 percent.
The Commerce Department noted that total wholesale inventories in April were up by 4.1 percent compared to the same month a year ago.
Additionally, the report said wholesale sales rose by 0.5 percent in April following a 1.4 percent decrease in the previous month.
Sales of durable goods jumped by 1.6 percent, more than offsetting a 0.5 percent decrease in sales of non-durable goods.
Compared to the same month a year ago, wholesale sales were up by 0.7 percent in April.
With sales increasing at a slightly faster pace than inventories, the wholesale inventories/sales ratio edged down to 1.21 in April from 1.22 in March. The ratio came in at 1.17 in April of 2012.
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