WASHINGTON — Business inventories increased 0.9% in January, the Commerce Department reported Friday.
Inventories for December were revised higher to a 1.1% increase from a 0.8% gain.
Total business sales rose 2.0% for the month, representing the largest increase in a year.
Economists expected inventories would increase 0.7% for the month, according to the median estimate from Thomson Reuters.
The inventories-to-sales ratio dipped to 1.23 from 1.25 last month.