U.S. Wholesale Inventories Rise, Sales Surge

  • 2/5/2023
  • 20:56
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Washington, Sha'ban 22, 1436, Jun 9, 2015, SPA -- U.S. wholesale inventories rose in April by the largest amount since January, as stabilizing oil prices helped sales surge at the fastest pace in 13 months, the government reported Tuesday. The Commerce Department said wholesale inventories rose 0.4 percent in April, following a revised 0.2 percent gain the previous month. Sales at the wholesale level rose 1.6 percent after declining in March. The sales surge was the biggest increase since March 2014 and follows several months of flat or declining sales. Inventories are a key component of changes in gross domestic product (GDP). Wholesale inventories excluding autos rose 0.2 percent in April, suggesting inventories likely will modestly boost GDP growth in the second quarter. Rising inventories can be an indication of strengthening business optimism as companies restock empty store shelves in expectation of increased demand. Economists expect sales at both the wholesale and retail levels to rebound in the coming months after the economy contracted in the first quarter. An increase in consumer spending, which accounts for 70 percent of economic activity, would support overall growth. --SPA 19:47 LOCAL TIME 16:47 GMT www.spa.gov.sa/w

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