WASHINGTON • U.S. wholesalers cut back on restocking in May even as sales rose, indicating economic growth could pick up later this year as they rebuild their stockpiles.
The Commerce Department said Wednesday that wholesale stockpiles shrank 0.5 percent in May, the most in 20 months. That followed a 0.1 percent decline in April, which was revised lower.
Sales at the wholesale level jumped 1.6 percent in May and 0.7 percent in April.
A reduction in stockpiles may prompt economists to cut their g...
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