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March Wholesale Inventories Revised Lower From Advance Estimate; Sales Jump

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-- Wholesale inventories rose by 1.3% in March, revised lower from a 1.4% increase in the advance reading and following a 0.9% gain in February.

Analysts in a survey compiled by Bloomberg expected March inventories to be unrevised.

Durable wholesale inventories increased by 0.2%, while nondurables inventories rose by 3.2%.

Wholesale sales increased by 2.8% in March after a 2.6% gain in February, led by a 1.6% increase in automotive sales. Analysts expected a 1.8% gain in wholesale sales.

When combined with already released data at the retail and factory levels, business inventories are tracking for a 0.9% gain, while business sales are tracking up 2.1%. The report on business inventories and sales will be released on May 14.

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