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- Inventories at U.S. wholesale businesses dropped in February
Inventories at U.S. wholesale businesses dropped in February
Inventories
at
The change
in February inventories is the biggest decline since September 2011 and
suggested businesses drew down their stocks to meet rising demand. Wholesale
inventories rose by a revised 0.8% in January.
Sales at
the wholesale level rose 1.7% in February, as businesses sold more computer
equipment and nondurable goods. Petroleum sales rose the most since June 2008.
Sales of durable goods, including cars and machinery, rose 0.4% during the
month.
Wholesalers
account for about one-third of all business inventories in the
Many
economists say the change in inventories this year will likely be positive for
first-quarter growth because stockpiles in the automotive sector and elsewhere
were relatively low at the end of last year.
The amount
of wholesale goods on hand relative to sales in February was 1.19 compared with
1.21 the prior month. The ratio measures how many months it would take for a
firm to reduce its current inventory.
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