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inventories in the
The report said business inventories increased by 0.3 percent in April compared to a revised 0.1 percent decrease in March. The modest rebound matched the expectations of economists.
Retail inventories rose by 0.4 percent, while inventories at both manufacturers and merchant wholesalers edged up by 0.2 percent.
Meanwhile, the Commerce Department also said business sales dipped by 0.1 percent in April after tumbling by 1.2 percent in the previous month.
The drop in business sales reflected a 0.7 percent decrease in sales by manufacturers. The report said sales by retailers were unchanged, while sales by merchant wholesalers rose by 0.5 percent.
inventories rising and sales falling, the total business inventories/sales
ratio inched up to
The report also showed that business inventories increased at an annual rate of 4.2 percent in April, while business sales were up by 1.5 percent year-over-year.
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