Wednesday, November 26th0.1°C
24157
23934

US wholesale stockpiles up 1.1 per cent in March as sales climb by largest amount in 10 months

WASHINGTON - U.S. wholesale businesses increased their stockpiles in March by the largest amount in five months while sales increased at the fastest clip in 10 months.

Wholesale stockpiles rose 1.1 per cent in March after a 0.7 per cent gain in February, the Commerce Department reported Friday. It was the ninth consecutive monthly gain and the largest increase since a 1.2 per cent rise in October.

Sales at the wholesale level were up 1.4 per cent, the best showing since a 1.9 per cent rise in May 2013.

The sizable gain in sales should encourage businesses to keep restocking their shelves to meet rising demand. That will mean increased orders to factories and rising production which would boost economic growth.

In the January-March quarter, the economy slowed to a barely discernible growth rate of 0.1 per cent after growth of 2.6 per cent in the October-December quarter. A slowdown in inventory building subtracted 0.6 percentage point from first quarter growth.

But economists expect the drag from a slowdown in inventory building will ease in the second quarter. The big rise in March inventories supports that view, indicating that there was growing momentum headed in the second quarter.

Many analysts are looking for growth to easily top 3 per cent in the second quarter with the most optimistic saying the economy may surge to growth above 4 per cent, reflecting pent-up demand from consumer spending that was delayed during the harsh winter.

Analysts think that growth will hold above 3 per cent in the second half of this year. If that forecast proves accurate, it would mean the country will enjoy the strongest year for the economy since 2005, two years before the Great Recession hit.

The Canadian Press


Read more Business News

24073


Recent Trending




Today's Market
S&P TSX15073.65+58.24
S&P CDNX780.64-6.86
DJIA17814.94-2.96
Nasdaq4758.252+3.36
S&P 5002067.03-2.38
CDN Dollar0.88840.00
Gold1196.80-0.2999
Oil74.06-0.03
Lumber328.80-0.70
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.32+0.04
Cantex0.040.00
Anavex Life Sciences0.175-0.005
Metalex Ventures0.030.00
Russel Metals32.14+0.65
Copper Mountain Mining2.15-0.02
Colorado Resources0.130.00
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.325-0.04

 
23744




FEATURED Property
21109461135c Leathead Road
4 bedrooms 2 baths
$172,700
more details
image2image2image2
Click here to feature your property
Please wait... loading


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...

_



24156

24158


Member of BC Press Council


22707