Wholesaler stockpiles, sales up in March

WASHINGTON -- Wholesale companies increased their stockpiles for the 15th straight month in March, a sign they expect future sales gains.

Supply levels at warehouses rose 1.1 percent in March, the Commerce Department said yesterday. Sales among wholesalers increased 2.9 percent and have risen in eight of the last nine months.

Wholesale inventories are at the highest level since November 2008. They have increased 15.5 percent from September 2009, the low point since the recession. Sales are at their highest level since June 2008.

Companies boosted their stockpiles of industrial machinery, pharmaceuticals, clothes and groceries. Inventories of autos and auto parts fell 0.5 percent. Sales at the wholesale level rose for every category except autos. -- AP