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U.S. Business Inventories Grow 0.1% M/M in March |
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US Economy |
Written by CEP News |
May 13 08 14:08 GMT |
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(CEP News) - According to the U.S. Commerce Department on Tuesday, business inventories picked up 0.1% month-over-month in March, compared to the consensus for a 0.4% increase and the revised 0.5% gain in February.
Prior to revisions, business inventories had risen 0.1% month-over-month. Manufacturing inventories advanced by 0.9% in March compared to the previous 0.7% gain while retailers fell 0.5% in inventories compared to the previous 0.1% fall. The report also noted a 0.1% decrease in wholesale inventories compared to the previous month's 0.9% gain. Total sales rose 1.0% in March, faster than the previous month's 1.0% decline. Manufacturing sales rose 1.1% month-over-month after falling 1.9% in February while retailers' sales increased 0.2% compared to the previous 0.5% pullback. Wholesalers' sales rose 1.6% compared to the previous 0.5% decline. The report also noted an inventory-to-sale ratio of 1.27, below the previous month's 1.28 level. By Erik Kevin Franco,
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, edited by Nancy Girgis,
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