Business inventories rose more than expected in April
Thursday, June 12, 2014 3:10 PM
U.S. business inventories increased by more than anticipated in April, according to a report today from the U.S. Commerce Department, RTTNews reported. The report said business inventories rose by 0.6 percent in April following a 0.4 percent increase in March. Economists had expected inventories to match the growth seen in the previous month. The larger-than-expected increase was partly due to another jump in wholesale inventories, which surged by 1.1 percent for the second consecutive month. Retail inventories also increased by 0.5 percent in April after ticking up by 0.1 percent in March, while manufacturing inventories rose by 0.4 percent after edging up by 0.2 percent in the previous month.