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U.S. wholesale inventories rebound in line with estimates in February

Staff Writer |
A report released by the Commerce Department showed U.S. wholesale inventories rebounded in line with economist estimates in the month of February.

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The Commerce Department said wholesale inventories rose by 0.4% in February after edging down by 0.2% in January. The increase in inventories matched the consensus estimate.

Inventories of non-durable goods climbed by 0.7% in February after dipping by 0.2% in January, with inventories of petroleum and farm products showing significant increases.

The report said inventories of durable goods also edged up by 0.2% in February, reversing the 0.2% drop in the previous month. Inventories of metals and lumber jumped sharply.

Additionally, the Commerce Department said wholesale sales increased by 0.6% in February after rising by 0.3% in January.

Sales of non-durable goods climbed by 0.7% in February after edging down by 0.1% in January, reflecting sharp increases in sales of alcohol and farm products.

The report said sales of durable goods also rose by 0.4% in February after climbing by 0.7% in January. Sales of metals and lumber saw significant growth, while auto sales fell sharply.

With inventories and sales both rising, the inventories/sales ratio for merchant wholesalers came in at 1.28 in February, unchanged from the previous month.


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