U.S. wholesale inventories jump 0.8% in April, but sales slump
Wholesale inventories in the U.S. jumped 0.8% in May, more than double the the Wall Street forecast. An increase in inventories adds to gross domestic product. Sales fell 0.4% in the month, however, suggesting companies might have to scale back production if demand fails to rebound. The ratio of inventories to sales rose to 1.34 from 1.33 That's how many months it would take to sell all the inventory on hand. One year ago, the inventory-to-sales ratio was lower at 1.28.