Wholesale Inventories Rise in April

Wholesale inventories rose 0.4% in April, the Commerce Department said Wednesday.

The increase followed a 0.7% increase the prior month, which was originally reported as 0.4%, Commerce said.

Wholesale sales rose 0.7% after a 2.6% increase in March.

Economists had forecast inventories to rise 0.5%, Bloomberg reported.

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