Wholesale Inventories Up More Than Expected

Washington, DC, June 8, 2012 -- Wholesale inventories rose 0.6% to a record $483.5 billion, according to the Commerce Department.

The increase was more than economists expected. They were calling for a 0.4% rise.

Stocks of durable goods, such as autos, computer equipment and machinery, rose 1.1%, the most since May 2011.

Sales at wholesalers in April rose 1.1%, much more than the pre-report estimate of 0.3%.