Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Customer service  |  Subscribe   |   Log in or sign up   |   Advertising information   |   Contact us

The top local business stories in your email

Contact Us:

Josh O'Connor
Phone: 425-339-3007

Maureen Bozlinski
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049

Jim Davis
Phone: 425-339-3097

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

U.S. wholesale stockpiles rose 1.1 percent in April

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
By Josh Boak
Associated Press
WASHINGTON — U.S. wholesale businesses built up their stockpiles of goods in April, a sign that companies expect stronger economic growth in the coming months.
The Commerce Department said Tuesday wholesale stockpiles expanded 1.1 percent in April, following a 1.1 percent gain in March. The result marks 10 straight months of rising inventories.
Sales at the wholesale level climbed 1.3 percent, led by autos, furniture and pharmaceutical drugs. Sales rose 1.6 percent in March. Year-over-year, sales are up 6.7 percent.
Because sales have roughly kept pace with the higher inventories, companies will likely need to continue restocking their shelves to meet rising consumer and business demand. That should help to fuel faster economic growth as more factories crank up their production and the spending ripples through the broader economy.
The Commerce Department report covers inventories held at the wholesale level. In a later report, the government will detail inventories at the manufacturing and retail levels.
The economy shrank in the January-March quarter due largely to the cold winter. Gross domestic product fell 1 percent in the first three months of 2013. Most economists expect the economy to accelerate over the coming months, as warmer weather fuels increased auto buying and hiring.
Employers added 217,000 jobs in May and 282,000 in April, the Labor Department said Friday. The 6.3 percent unemployment rate and continued job growth should lead to more robust growth.
The forecasting firm Macroeconomic Advisers estimates that the U.S. economy will grow at annual clip of 3.9 percent in the April-July quarter and 2.4 percent over the course of the entire year.
Story tags » Wholesale



Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup