US Wholesale Inventories Drop By Unrevised 0.4% In March

US wholesale inventories drop by unrevised 0.4% in March

U.S. wholesale inventories fell, confirming that inventory investment was a drag on economic growth in…

One America News Network

Reporting by Lucia Mutikani; Editing by Paul Simao

WASHINGTON (Reuters) – U.S. wholesale inventories fell in March, confirming that inventory investment was a drag on economic growth in the first quarter.

The Commerce Department’s Census Bureau said on Wednesday that wholesale inventories fell 0.4% as estimated last month. Stocks at wholesalers rebounded 0.2% in February.

Economists polled by Reuters had expected that inventories, a key part of gross domestic product, would be unrevised. Inventories dropped 2.3% on a year-on-year basis in March.

Private inventory investment cut 0.35% percentage point from GDP growth in the first quarter, the government reported last month. It was the second straight quarter that inventories subtracted from GDP.

Read Full Article Here…(oann.com)

Home | Caravan to Midnight (zutalk.com)

Live Stream + Chat (zutalk.com)

We Need Your Help to Keep Caravan To Midnight Going,

Please Consider Donating to Help Keep Independent Media Independent