US wholesalers boost stockpiles 1.1 per cent in September as sales jump 2 per cent
WASHINGTON – U.S. wholesale businesses increased their stockpiles in September at the fastest pace in nine months and their sales jumped by the largest amount in 18 months. The increases point to stronger economic growth.
The Commerce Department says wholesale stockpiles grew 1.1 per cent in September, up from 0.8 per cent growth in August.
Sales at the wholesale level jumped 2 per cent in September. That was double the August gain and the largest increase since March 2011.
The increase may mean the economy grew at a faster rate in the July-September quarter than first estimated. More restocking helps drive economic growth. When businesses order more goods, it generally leads to more factory production.
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