US job openings and small business activity at record high

US job openings surged to a record high in April and small business confidence increased in May — signs the US economy is regaining momentum after stumbling at the start of the year.

The second-quarter economic outlook also got a boost from other data yesterday showing a solid rise in wholesale inventories in April, as stabilising oil prices helped lift sales by the most in more than a year.

The US Government’s Labour Department said job openings increased to 5.4 million in April, the highest since the series began in December 2000, from 5.1 million in March.