US retail inventories rise 0.3% in January

By Ovunc Kutlu

ISTANBUL (AA) - Retail inventories in the US increased 0.3% in January from the previous month, according to Commerce Department's Census Bureau data released Tuesday.

The figure, which measures the change in the total value of goods held in inventory by the nation's retailers, was estimated at $743.1 billion, according to advanced figures.

Retail inventories in December were revised down to a gain of 0.4%, from an increase of 0.7%, the Bureau said in a statement.

On an annual basis, retail inventories in January were up 12% from the same month of last year.