US wholesale inventories up 0.5pc in April

(Sharecast News) - US wholesale inventories rose 0.5% month-on-month to $938.6bn in April, according to the Census Bureau, following an upwardly revised 1.5% increase in March, which was the strongest growth since August 2022, but fell just short of expectations for a 0.6% jump.

April's increase marked a third consecutive monthly rise in wholesale inventories.

Stocks of durable goods rose 0.9%, after March's 0.5% increase, while non-durable stocks decreased by 0.2%, easing from the prior month's 3.2% advance.

On an annualised basis, wholesale inventories improved by 3.4%.

Reporting by Iain Gilbert at Sharecast.com