Inventories held by wholesalers rose for the fifth consecutive month in May but sales fell for the first time in over a year.
According to statistics released by the United States Department of Commerce, wholesale inventories increased 0.5 percent in May while sales dropped 0.3 percent, the first sales decline since March of 2009. The drop in sales is a reflection of the current state of the economic recovery and could discourage businesses from boosting their orders, translating into a slowdown in factory production.
Economists had hoped that a steady rise in demand would cause businesses to increase orders and restock, lifting struggling factories and creating jobs.
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