U.S. wholesale inventories higher in February
Wholesale inventories rose 0.1% in February and sales in the month climbed 0.4%, the government said Monday. The inventory-to-sales ratio fell a tick to 1.37 months from 1.38. A year ago the ratio stood at a much lower 1.24.
The ratio reflects how long it would take a company to sell all the goods sitting on warehouse shelves. Higher inventory levels reflect softer sales as the economy slows. Businesses have trimmed production to bring inventories more in line with demand. That could also depress the economy.
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