U.S. wholesale inventories rose in March, fueled by increased stockpiles of cars and machinery, but sales at the wholesale level fell sharply, the government reported Thursday. The Commerce Department said wholesale inventories rose 0.4 percent in March following a 0.3 percent decline the previous month. Sales in March fell 1.6 percent, the biggest decline since early 2009, when the country was in recession. Sales had risen 1.5 percent in February. Inventory rebuilding can help economic growth because it means stronger production at factories. The March increase left inventories at $503.1 billion, up 4.7 percent from a year ago and 30.7 percent above the recession low. The increase in inventories could reinforce the view that the pace of economic growth accelerated in the first three months of the year, helped by businesses restocking their shelves. The government estimated last month that the overall economy grew at an annual rate of 2.5 percent in the first quarter, up from a weak 0.4 percent rate in the fourth quarter of 2012. Growth accelerated largely because consumer spending rose at the fastest pace in more than two years.
