U.S. stockpiles grew 1.1 pct. in Sept., a sign of stronger economy
ASSOCIATED PRESS November 9, 2012 11:48AM
Updated: November 9, 2012 2:22PM
WASHINGTON — U.S. wholesale businesses increased their stockpiles in September at the fastest pace in nine months and their sales jumped by the largest amount in 18 months. The increases point to stronger economic growth.
The Commerce Department says wholesale stockpiles grew 1.1 percent in September, up from 0.8 percent growth in August.
Sales at the wholesale level jumped 2 percent in September. That was double the August gain and the largest increase since March 2011.
The increase may mean the economy grew at a faster rate in the July-September quarter than first estimated. More restocking helps drive economic growth. When businesses order more goods, it generally leads to more factory production.