Wholesale Inventories Rise in March

Wholesale inventories rose 1.1% in March, while sales rebounded after a drop a month earlier, the Commerce Department said Tuesday.

Sales shot up 2.9% after dropping 0.3% in February, Commerce said.

The inventories gain was in line with economists’ forecasts of a 1% gain, Bloomberg reported.

Factory inventories, which make up about two-fifths of the total, rose 1.1% following a 1% increase in February.

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