Wholesale Inventories Rise 0.8%

Wholesale inventories rose 0.8% in May, the Commerce Department said Tuesday.

The increase followed a revised 1.4% increase in April, Commerce said. Wholesale sales jumped 1.6% in May, matching April’s gain.

The inventory reading was more than the 0.6% increase forecast by economists, Bloomberg reported.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.