WASHINGTON - Business inventories increased 1.0% in March as retail inventories gained 0.9%, the Commerce Department reported Thursday.
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Business sales jumped 2.2%, the largest increase in a year. Inventories for February were revised higher to a 0.7% increase from the 0.5% climb reported last month.
Economists expected inventories would increase 0.8% for the month, according to the median estimate from Thomson Reuters.
The inventories-to-sales ratio was 1.23 in March, down from 1.24 in February. The March retail inventories-to-sales ratio was 1.33.
