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U.S. Wholesale Inventories Increased Solidly in May
Wholesale inventories in the U.S. grew in May at a robust pace, signaling that firms continued to invest in restocking shelves. Inventories of U.S. merchant wholesalers rose 1.8% in May compared with the previous month, according to data from the Commerce Department released Friday. In April, wholesale inventories increased by a faster 2.3%. Economists polled by The Wall Street Journal expected inventories to advance by 2%. The ratio of inventories to sales continued to recover in May, coming in at 1.26, up from 1.25 in April and above 1.22 the same month the prior year.