US wholesale inventories rise more than previously expected in February

The US Commerce Department said that wholesale inventories in the United States rose by 2.5% in February instead of 2.1% as previously reported, compared to 1.2% in January, and on an annual basis wholesale inventories rose by 19.9% ​​in February.

Wholesale inventories excluding automobiles rose 2.6% in February and this component is included in the GDP calculation, and wholesale automobile inventories rose 1.4% in February after declining 2.3% in January.

The data showed that sales at wholesalers rose 1.7% in February after rising 5.0% in January, and investment in inventory rose at a seasonally adjusted annual rate of $193.2 billion in the fourth quarter.