Wholesale Inventories Rise 0.6%; Sales Drop 1.9% in January

Wholesale inventories increased 0.6% in January, the Commerce Department reported Tuesday.

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Wholesale sales declined 1.9%.

Economists expected inventories would increase 0.4% and sales would gain 0.1%, according to the median estimate from Thomson Reuters.

Inventories for December were revised higher to a 0.4% rise from the 0.3% increase originally reported last month. December sales were up a revised 0.1%, originally reported as a 0.5% gain.

Inventories of durable goods increased 0.4% in January following a 1.2% increase in December. Sales of durable goods decreased 0.4% in January following a flat December.

The inventories-to-sales ratio gained to 1.20 in January from 1.18 in December.


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