U.S. wholesale inventories rise solidly, may boost 2Q GDP

Wholesale inventories rose 1.1 percent in both March and April, the Commerce Department reported on Tuesday.
 
The increase has strengthened predictions that the economy could see sharp growth in the second quarter, according to reporting by Reuters.
 
Sales at the wholesale level increased 1.3 percent in April and 1.6 percent in March, driven by strong retail sales of autos, furniture, electronics and machinery, the report states.

Read more from Reuters.