U.S. Business Inventories Rise in April

Business inventories in the United States declined by 0.2% in April, official data showed on Tuesday.

The reading follows a rise of 0.2% in March.

On the annual level, inventories fell by 3.6%, according to the U.S. Department of Commerce.

Retail inventories plunged by 1.8%, after decreasing by 1.4% in March.

The inventories of motor vehicles slid by 7.5%, while retail inventories excluding automobiles rose by 0.6%.

Meanwhile, wholesale inventories grew by 0.8% in April, with manufacturers’ inventories increasing by 0.3%.