Wholesale Inventories Rise More Than Forecast

Wholesale inventories rose 0.9% in February, the Commerce Department said Tuesday.

The increase followed a revised 0.6% increase in January that was more than the 0.4% gain originally reported.

Durable goods stockpiles rose 0.5%.

February’s increase was almost twice economists’ median forecast of a 0.5% gain, Bloomberg reported.

Wholesale sales rose 1.2%, following no change in January. Durable goods sales rose 0.9%.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.