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US Wholesale Inventories Revised Lower in March
U.S. wholesale inventories were revised lower in March to show them unchanged from the prior month, according to government data on Monday. The Commerce Department had previously estimated wholesale inventories to have gained 0.1%. Stocks at wholesalers were also unchanged in February. Economists polled by Reuters had expected that inventories would be unrevised. Inventories are a key part of gross domestic product. They increased 9.1% in March on a year-on-year basis. Private inventory investment declined in the first quarter for the first time in 1-1/2 years, restricting GDP growth to a 1.1% annualized pace last ... (full story)