Wholesale Inventories Rise in February
Wholesale inventories rose 0.5% in February and sales increased, the Commerce Department reported April 9.
Sales increased 0.7% in February after falling 1.8% the prior month. The rise in inventories followed a revised 0.8% increase in January.
The rise in inventories matched economists’ median forecast, Bloomberg News reported. Estimates ranged from 0.1% to 1%.
Wholesale inventories excluding oil increased 0.6%. The January rise in inventories was revised from a 0.7% increase.
Wholesale inventories account for about one-fourth of total business stockpiles. Retailers and factories account for the rest.
