A report released by the Commerce Department on Monday showed inventories in the U.S. increased in line with expectations in the month of February.

The Commerce Department said business inventories climbed by 0.6 percent in February, matching the increase seen in January as well as economist estimates.

The report showed a notable increase in wholesale inventories, which jumped by 1.0 percent in February after climbing by 0.9 percent in the previous month.

Retail inventories also increased by 0.4 percent in February after climbing by 0.7 percent in January, while manufacturing inventories rose by 0.3 percent after increasing by 0.4 percent.

The Commerce Department also said business sales climbed by 0.4 percent in February after falling by 0.3 percent in January.

Wholesale sales showed a significant rebound, surging up by 1.0 percent in February after tumbling by 1.5 percent in the previous month.

The report also showed a 0.2 percent uptick in manufacturing sales, while retail sales edged down by 0.1 percent during the month.

With inventories and sales both rising, the total business inventories/sales ratio came in at 1.35 in February, unchanged from January.

by P2PNews Staff Writer

editorial@p2pnews.com

Forex NewsBB

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