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News Summary: US wholesale stockpiles up in August

The Associated Press

FILE - This Dec. 7, 2011, file photo, shows customers shopping at a Costco, in Portland, Ore. The Commerce Department will release its wholesale trade inventories report, Friday, Oct. 25, 2013. (AP Photo/Rick Bowmer, File)

STOCKING UP: U.S. wholesalers boosted their stockpiles by 0.5 percent in August, the most in seven months and a sign that many companies expect demand to rise. Sales rose 0.6 percent, the fourth gain in five months.

WHO'S HOARDING: Auto inventories jumped 2.3 percent, the biggest gain in four months, and furniture stockpiles rose 1.1 percent for the second straight month. Stockpiles of pharmaceuticals, oil and gas, and clothing also increased.

THE MESSAGE: Rising inventories point to stronger growth because it means factories have produced more goods. And higher wholesale sales means businesses are unlikely to get caught with too many unsold goods on their shelves.