U.S. Wholesale Inventories Rise in February

Wholesale inventories in the United States increased during February, according to data by the U.S. Department of Commerce on Friday.

The initial estimate of the growth in wholesale inventories was revised upwards to 0.6%, from 0.5% estimated last month, following a 1.4% surge in January.

Meanwhile, the component of wholesale inventories, which is calculated within the gross domestic product (GDP), rose by 0.8% in February.

On an annual level, inventories increased by 2% in February.

As for wholesale sales, it registered an 0.8% decline, after rising by 4.4% in January.