U.S. Wholesale Inventories Rise in April

Wholesale inventories in the United States registered a relatively large rise in April, data showed on Wednesday.

According to the most recent data by the U.S. Department of Commerce, wholesale inventories grew by 0.8%. The reading follows a 1.2% rise in March.

The growth in wholesale inventories has been attributed to businesses trying to be ready to meet the rising demand amidst the recovery from the pandemic.

On the annual basis, wholesale inventories increased by 5.2%.