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US wholesale inventories rise in February amid weak sales
[WASHINGTON] US wholesale inventories rose in February as sales remained weak, suggesting wholesalers might have little incentive to aggressively restock warehouses in coming months.
The Commerce Department said on Thursday wholesale inventories rose 0.3 per cent after an upwardly revised 0.4 per cent increase in January.
Economists polled by Reuters had forecast stocks at wholesalers rising 0.2 per cent in February after a previously reported 0.2 per cent gain in January.
Sales at wholesalers fell 0.2 per cent in February after declining 3.6 per cent the prior month. At February's sales pace it would take wholesalers 1.29 months to clear shelves, unchanged from January.