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The U.S. Commerce Department released wholesale inventories on Thursday. Wholesale inventories in the U.S. increased 0.6% in April, exceeding expectations for a 0.1% gain, after a 0.2% rise in March. March's figure was revised up from a 0.1% increase.
The increase was mainly driven by a rise in inventories of durable and non-durable goods. Inventories of non-durable goods increased 1.3% in April, while inventories of durable goods rose 0.2%.
Wholesale sales rose 1.0% in April, after a 0.2% increase in March.