U.S. business inventories rise in line with estimates in February
The Commerce Department said business inventories rose by 0.3% in February, matching the increase seen in January as well as expectations.
Wholesale inventories rebounded after declining in the previous month, climbing by 0.4% in February after dipping by 0.2% in January.
The report said retail inventories also rose by 0.3% in February after advancing by 0.9% in January, while manufacturing inventories edged up by 0.2% after rising by 0.3%.
Additionally, the Commerce Department said business sales crept up by 0.2% in February following a 0.3% increase in January.
Wholesale sales climbed by 0.6% and manufacturing sales rose by 0.3%, although retail sales fell by 0.3%.
With inventories and sales both rising, the total business inventories/sales ratio came in at 1.35 in February, unchanged from January. ■