Mumbai, June 18 -- U.S. business inventories increased strongly in April, indicating that inventory investment could help boost economic growth in the second quarter.
According to the Commerce Department's Census Bureau, inventories rose 0.5% in April after increasing 1.0% in March. Compared with a year earlier, inventories were up 2.7% in April.
Inventories had been reduced for four consecutive quarters and had an almost neutral effect on the economy's 1.6% annualized growth rate in the first quarter.
Retail inventories rose 0.7% in April, in line with the estimate released last month, following a 0.8% increase in March. Motor vehicle inventories increased 0.8%, revised down slightly from the previously reported 0.9%, after rising 1.2% ...