U.S. April wholesale inventories shrink
WASHINGTON (CBS.MW) - Inventories at U.S. merchant wholesalers fell 0.1 percent in April, the first decline since August, the Commerce Department estimated Wednesday. With sales rising 0.8 percent as inventories fell, the inventory-to-sales ratio dropped to a record low 1.12. In March, sales increased an upwardly revised 2.9 percent, a 10-year high. Inventories increased a downwardly revised 0.5 percent in March. Sales of durable goods increased 1.5 percent in April while inventories were flat, pushing the inventory/sales ratio to a record low 1.37. Sales of nondurable goods increased 0.2 percent in April while inventories fell 0.2 percent. The inventory-to-sales ratio remained at a record low 0.88.
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