Business inventories in the U.S. increased in line with economist estimates in the month of February, according to a report released by the Commerce Department on Friday.
The Commerce Department said business inventories rose by 0.3 percent 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 percent in February after dipping by 0.2 percent in January.
The report said retail inventories also rose by 0.3 percent in February after advancing by 0.9 percent in January, while manufacturing inventories edged up by 0.2 percent after rising by 0.3 percent.
Additionally, the Commerce Department said business sales crept up by 0.2 percent in February following a 0.3 percent increase in January.
Wholesale sales climbed by 0.6 percent and manufacturing sales rose by 0.3 percent, although retail sales fell by 0.3 percent.
With inventories and sales both rising, the total business inventories/sales ratio came in at 1.35 in February, unchanged from January.
by RTT Staff Writer
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