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For May, stockpiles increased the most at the retail level, a gain of 0.8 percent. Stockpiles at the wholesale level rose 0.5 percent, while manufacturing inventories declined 0.2 percent. Sales in May rose 0.5 percent at the manufacturing level. But they fell at both the wholesale and retail levels. Wholesale stockpiles account for about 27 percent of total business inventories. Stockpiles held by retailers make up about one-third of the total and manufacturing inventories represent about 40 percent.
[Associated
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