Wholesale Inventories, Sales Rise in July

Washington, DC, Sept. 10, 2010--Wholesale inventories increased in July by the largest amount in two years while sales rebounded after two straight declines.

The Commerce Department said wholesale inventories rose 1.3% in July, the best performance since July 2008 and triple the increase economists had expected. Sales at the wholesale level increased 0.6%, double what had been expected and the best showing since April.

Businesses restocking depleted store shelves has been a major driver of the economy since late last year.