Wholesale Inventories Expand in May
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Stocks on wholesalers’ shelves rose in May for the first time in a year as sales posted their first drop since December, the government said in a report which suggests that the long run of inventory depletion may be bottoming out.
Boosted by rising stocks of autos and computers and nondurable goods, inventories rose 0.1% after a revised 0.9% drop in April, the Commerce Department said. Analysts were expecting a decline of 0.2%.
Sales at the wholesale level fell 0.2%, the first decline since a 1% drop in December, pulled down by sluggish demand for autos and nondurable goods.
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