US businesses boost stockpiles 0.6 per cent in April, largest gain in 6 months as sales rise

CP28728159
In this June 4, 2014 photo, shoppers look at washers and dryers at a Costco in Plano, Texas. The Commerce Department releases business inventories for April on Thursday, June 12, 2014. (AP Photo/LM Otero)

WASHINGTON – U.S. businesses increased their stockpiles in April by the largest amount in six months, signalling business optimism that future demand will keep rising.

The Commerce Department says business stockpiles rose 0.6 per cent after a 0.4 per cent March gain. It marked the 11th consecutive increase in inventories and was the biggest advance since last October. Total business sales were up a solid 0.7 per cent in April after a 1.1 per cent rise in March, which had been the biggest monthly sales increase in 10 months.

The solid sales gains are expected to prompt businesses to keep ordering more goods to restock their shelves. That rising demand will help boost factory production and foster stronger overall economic growth. A strong rebound in growth is expected in the April-June quarter.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles