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US wholesale inventories' growth eases in April

U.S. wholesale inventories edged up by 0.1% on a monthly basis in April, down from the revised 0.2% increase in March, the Census Bureau reported.

Total inventories of merchant wholesalers, excluding manufacturers' sales branches and offices, rose to $630.17 billion in April from the revised $629.23 billion in the previous month.

Sales of merchant wholesalers went up 0.8% to $493.30 billion in April from the revised $489.61 billion in March.

The inventories-to-sales ratio for April was 1.28, compared to 1.30 a year ago.

In annual terms, total wholesale inventories were up 5.8% in April and sales increased 7.8%.