WASHINGTON — Stockpiles held by U.S. businesses edged up slightly in April, while sales jumped by the largest amount in two months.
Business inventories increased 0.1
A slowdown in restocking empty store shelves has been a drag on overall economic growth over the past two quarters. But analysts are hoping that stronger sales will give businesses more confidence to replenish their inventories in coming months, helping to boost economic growth.
In April, inventories held at the wholesale level rose 0.6
In the January-March quarter, the reduction in stockpiling trimmed 0.2 percentage point from growth.
The economy, as measured by the gross domestic product, grew at a
In a separate report Tuesday, the government said that retail sales increased 0.5