WASHINGTON – Wholesale companies added to their stockpiles of autos, machinery and computers in June. Inventories rose for the 18th consecutive month and sales rebounded after a May decline.
The Commerce Department says wholesale inventories increased 0.6 per cent in June after a 1.7 per cent gain in May.
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Sales at the wholesale level rose 0.6 per cent in June. That followed a 0.3 per cent drop in May. Sales have risen in 10 of the past 12 months.
Stockpiles at the wholesale level have risen to $458.7 billion, up 19.6 per cent from the low point hit in September 2009. Rising demand could convince businesses to keep restocking their shelves, which could boost growth at a critical time when the economy has slowed.
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