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U.S. business inventories rise in line with estimates in February

Staff Writer |
Business inventories in the US increased in line with economist estimates in the month of February, according to the Commerce Department.

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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.

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