Wholesale Sales Jump 1.8%

Sales at U.S. wholesalers jumped 1.8% in March, the fastest pace in a year and a half, the Commerce Department said Tuesday.

The sales increase followed a 1% gain in February. Wholesale inventories rose 0.3% following a 0.4% increase, Commerce said.

Economists had forecast inventories would rise 0.4%, Bloomberg reported.

The inventory-to-sales ratio, which measures how long inventories would last at the current sales pace, fell to 1.14 months from 1.15 months.

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