Wholesale inventories and sales both up in April

June 9, 2010 8:09:39 AM PDT
WASHINGTON (AP) - Inventories held by wholesalers rose for a fourth straight month in April while sales rose for a 13th consecutive time. Both gains were encouraging signs pointing to a sustained economic recovery.The Commerce Department says wholesale inventories increased 0.4 percent last month after a 0.7 percent gain in March. Sales increased 0.7 percent in April, helped by higher demand for autos, lumber, computers and electrical equipment.

The hope is that a sustained rise in demand will prompt businesses to step up orders and restock depleted shelves. That would give a boost to factories and prompt them to increase hiring.