ISTANBUL: US business inventories rose 0.4% to $2,567.5 billion in February, according to Commerce Department figures released Monday.
The figure was in line with market expectations. Business inventories showed no change in January and stood at $2,556.1 billion.
Business inventories, which measure the change in value of unsold goods held by manufacturers, wholesalers and retailers, were annually up 1% in February, compared to the same month in 2023.
An increase in inventories indicates there is still a lack of consumer demand as a result of the Federal Reserve’s aggressive monetary tightening to lower record inflation.
Source: Anadolu Agency