US wholesale inventories up 0.2%

U.S. wholesale inventories and sales grew in April, fresh evidence of the ongoing economic recovery, U.S. Commerce Department said on Tuesday. Inventories at the wholesale level rose 0.2 percent in April from the prior month to 504.8 billion U.S. dollars, and were up 4.1 percent from the same month a year ago. Sales at the wholesale level rose 0.5 percent to 416.6 billion dollars, and were up 0.7 percent from the same month a year ago. An increase in business restocking can boost economic growth. Total private inventories contributed 0.63 percentage point to the overall economic growth in the first quarter this year, the Commerce Department said last month.