News Summary: US wholesalers increase stockpiles

News Summary: US wholesalers increase stockpiles 0.2 percent in April as sales rise

Associated Press

STOCKPILES UP: U.S. wholesalers increased their stockpiles 0.2 percent in April after 0.3 percent rise in March.

SALES REBOUND: Sales at the wholesale level rose 0.5 percent in April, the best showing since February. Sales had plunged 1.4 percent in March.

OUTLOOK: An increase in restocking can drive more economic growth. It means companies are ordering more goods from U.S. factories. Faster restocking helped the economy grow at a 2.4 percent annual rate in the January-March quarter.

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