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US wholesale stockpiles edged up 0.1 per cent in July; sales also up 0.1 per cent

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FILE - In this July 18, 2013, file photo, a container ship moves into the harbor in Charleston, S.C. The government reports how much wholesale businesses adjusted their stockpiles in July and how much they collected in sales on on Wednesday, Sept. 11, 2013. (AP Photo/Bruce Smith, File)

WASHINGTON – U.S. wholesalers increased in their stockpiles only slightly in July after three monthly declines as their sales improved at the weakest pace in seven months.

The Commerce Department says wholesale stockpiles rose just 0.1 per cent in July from June. They had fallen 0.3 per cent in June.

Sales also rose a modest 0.1 per cent in July, the fourth straight gain.

The tiny gain in restocking follows three months of declines, adding to worries that the July-September quarter is off to a weak start. More restocking boosts factory production and overall economic growth.

The July increase left stockpiles at $500 billion, or 2.2 per cent higher from a year ago.

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