US wholesale inventories rise more than expected in April

The US Commerce Department said that wholesale inventories in the United States rose by 2.2% in April instead of 2.1% as previously reported, compared to 2.7% in March after an upward revision.

On an annualized basis, wholesale inventories rose 24.0% in the twelve months to April, wholesale auto stocks rose 1.3% in April and wholesale apparel stocks rose 6.4% in April. Wholesale inventories excluding autos, which are included in the GDP calculation, rose 2.2% in April, and sales at wholesalers rose 0.7% in April after rising by 1.8% in March.