US wholesale inventories in February revised down to 0.1% gain

By Ovunc Kutlu

ISTANBUL (AA) - US wholesale inventories in February was revised down to a 0.1% gain, from a 0.2% increase, according to Commerce Department data released on Monday.

The figure, which measures the change in the total value of goods held in inventory by wholesalers, was revised to $919.2 billion for February, from $920.3 billion.

The January figure came in at $918.4 billion for a monthly decrease of 0.6%.

On an annual basis, wholesale inventories in February are up 12% compared to the same month last year.

In February, sales of merchant wholesalers, excluding manufacturers’ sales, stood at $669.5 billion – a gain of 0.4% from the revised January level.

Annually, sales increased 1.3% from February 2022 level, according to the data.