U.S. Business Inventories Rise 0.2% In February, Slightly Less Than Expected
(RTTNews) - Business inventories in the U.S. saw a modest increase in the month of February, according to a report released by the Commerce Department on Friday.
The Commerce Department said business inventories edged up by 0.2 percent in February after slipping by a revised 0.2 percent in January.
Economists had expected business inventories to rise by 0.3 percent compared to the 0.1 percent dip originally reported for the previous month.
The modest increase in business inventories came as retail inventories climbed by 0.7 percent in February after coming in unchanged in January.
Wholesale inventories also crept up by 0.1 percent in February after falling by 0.6 percent in January, while manufacturing inventories edged down by 0.1 percent for the second straight month.
The Commerce Department also said business sales were unchanged in February after jumping by 1.2 percent in January.
The unchanged reading came as a 0.4 percent increase in wholesale sales was offset by a 0.5 percent drop in manufacturing sales. Retail sales were unchanged.
The report said the total business inventories/sales ratio came in at 1.36 in February, unchanged from the previous month.
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