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U.S. Wholesale Inventories Kept Robust Growth in April
Wholesale inventories in the U.S. increased solidly in April compared with the previous month, reflecting firms' restocking efforts amid persisting supply-chain bottlenecks. Inventories of U.S. merchant wholesalers rose 2.2% in April on month, easing from the revised 2.7% increase registered in March, data from the Commerce Department showed Wednesday. Economists polled by The Wall Street Journal expected inventories to increase by 2.1% in April. The ratio of inventories to sales stood at 1.25 in April, up from 1.23 in March and above 1.21 the same month a year earlier.