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U.S Wholesale Inventories Inch Up Slightly Less Than Expected In February
(RTTNews) - Wholesale inventories in the U.S. edged slightly higher in the month of February, according to a report released by the Commerce Department on Monday.
The report said wholesale inventories inched up by 0.1 percent in February after falling by 0.6 percent in January. Economist had expected inventories to rise by 0.2 percent.
The uptick in inventories came as a 0.5 percent increase in inventories of durable goods was largely offset by a 0.5 percent decrease in inventories of non-durable goods.
Meanwhile, the Commerce Department said wholesale sales climbed by 0.4 percent in February, matching the growth seen in the previous month.
A 1.2 percent jump in sales of durable goods more than offset a 0.3 percent decline in sales of non-durable goods.
With sale rising by more than inventories, the inventories/sales ratio for merchant wholesalers edged down to 1.37 in February from 1.38 in January.
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