By Ruth Mantell
WASHINGTON (MarketWatch) -- Total business inventories rose 1% in May, with gains among manufacturers, merchant wholesalers and retailers, the Commerce Department reported Thursday. Economists polled by MarketWatch had expected a gain of 0.8%. In April, inventories also gained 1%. Meanwhile, total business sales fell 0.1% in May, declining among retailers and merchant wholesalers, but gaining among manufacturers. The inventories-to-sales ratio was 1.28 in May, compared with 1.27 in April. "This ratio has remained at a historically low level, suggesting that businesses in general have been successful in managing inventories," Bank of America Merrill Lynch analysts wrote in a research note prior to the data's release.
