US wholesale stockpiles up slight 0.1 per cent in March despite eighth straight drop in sales

CP33017205
FILE - In this April 29, 2015 file photo, a worker lifts Goya Foods products in a warehouse at the new corporate headquarters before opening ceremonies, in Jersey City, N.J. The Commerce Department releases wholesale trade inventories for March on Friday, May 8, 2015. (AP Photo/Mel Evans, File)

WASHINGTON – U.S. wholesalers expanded stockpiles modestly in March even though their sales fell for an eighth straight month.

The Commerce Department says wholesale stockpiles edged up 0.1 per cent following a 0.2 per cent rise in February. Sales at the wholesale level fell 0.2 per cent after an even bigger 0.6 per cent drop in February. Sales have fallen every month since August.

Economists are expecting that sales will rebound in coming months as the warmer weather lures shoppers back to shopping malls and auto dealerships. The pickup in demand is expected to give a boost to consumer spending, which accounts for 70 per cent of economic activity.

Higher demand at the retail level should spur increased restocking at all levels of business including wholesalers.

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This material may not be published, broadcast, rewritten or redistributed.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