Wholesale inventories rise 0.8 pct in April

Wholesale inventories rose less than expected in April, held back by the biggest drop in auto inventories since December 2009, a Commerce Department report showed on Thursday.

Inventories rose 0.8 percent to $447.2 billion in the first month of the second quarter, below economists' forecasts for a 1.0 percent rise. Automotive inventories, one of the biggest categories, fell 1.3 percent.

Sales rose to $393.5 billion, the highest since June 2008. But the 0.3 percent month-to-month rise was much less than the 1.2 percent gain analysts had forecast.

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- Posted: 2011-06-09 10:44:16

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