WASHINGTON (AP) — U.S. businesses at the wholesale level boosted their stockpiles in September by the largest amount in three months, responding to a robust rebound in sales.
The Commerce Department says stockpiles at the wholesale level increased 0.5 percent in September, the biggest increase since a 0.7 percent rise in June. Inventories had risen 0.3 percent in August.
Sales advanced 0.5 percent in September, recovering from a 0.9 percent fall in August. It was the biggest gain in five months.
Economists are forecasting further sales gains in the months ahead. Rising demand is expected to boost confidence among businesses and prompt them to expand stockpiles.
A major effort to work down an overhang of unsold inventories was a big drag on economic growth in the third quarter.
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