U.S. business inventories rose 0.4% in April as sales rose, the Commerce Department said Wednesday.
The 0.4% gain in inventories was more than a 0.3% increase forecast by analysts, Bloomberg reported.
Business sales rose 0.7%. Ìý Retail inventories, which account for a little over a third of all business stockpiles, rose 0.3% following a 0.6% drop. Retail sales excluding food fell 0.1%. Ìý When sales are growing, it usually means trucking is seeing additional demand to deliver goods and restock shelves.
Higher inventories mean goods are not being sold at a rapid pace, which could lower demand for trucking services.
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