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US Business Inventories Rise 0.4% In February

15.04.2024 19:27

Inventories up 1% year on year, according to Commerce Department.

US business inventories rose 0.4% to $2,567.5 billion in February, according to Commerce Department figures released Monday.

The figure was in line with market expectations. Business inventories showed no change in January and stood at $2,556.1 billion.

Business inventories, which measure the change in value of unsold goods held by manufacturers, wholesalers and retailers, were annually up 1% in February, compared to the same month in 2023.

An increase in inventories indicates there is still a lack of consumer demand as a result of the Federal Reserve's aggressive monetary tightening to lower record inflation. -

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