Wholesale Inventories Rise 1.1%

Wholesale inventories rose 1.1% in June, the Commerce Department said Friday.

The increase followed a revised 0.9% increase in May, Commerce said. Wholesale sales jumped 2.8%.

The inventory reading was more than the 0.6% increase forecast by economists, Bloomberg reported.

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