Wholesale Inventories Rise 0.3%

Wholesale inventories rose 0.3% in April, the Commerce Department said Thursday.

The uptick was in line with economists’ forecasts and followed at 0.4% gain in March, Bloomberg reported.

Sales at wholesalers jumped 1.3% following a 2.1% increase, Commerce said.

The inventory-to-sales ratio, which measures how long inventories would last at the current sales pace, matched a record low in falling to 1.12 months from 1.13 months in March.

Wholesale inventories account for about a fourth of total business stockpiles. Retailers and factories account for the rest.