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US Wholesale February inventories revised slightly up
U.S. wholesale inventories increased slightly more than initially estimated in February amid a decline in sales. The Commerce Department said on Friday that wholesale inventories rose 0.6%, instead of 0.5% as estimated last month. Stocks at wholesalers surged 1.4% in January. The component of wholesale inventories that goes into the calculation of gross domestic product increased a solid 0.8% in February. That suggests inventory investment could contribute to GDP growth in the first quarter. Inventories increased 2.0% in February from a year earlier. Sales at wholesalers fell 0.8% after accelerating 4.4% in January. ... (full story)