U.S. wholesale inventories rose by more than expected in the month of February, according to figures released Tuesday by the Department of Commerce, with wholesale sales also showing a notable increase.
Commerce Department figures put the level of inventories for wholesalers at a seasonally adjusted level of $478.9 billion in February, reflecting a 0.9 percent increase from January levels. Most economists had expected a more modest 0.6 percent increase in inventories.
Furthermore, January figures, which had initially shown a 0.4 percent increase in inventories, were upwardly revised to show 0.6 percent growth.
by RTT Staff Writer
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