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US business inventories up by 0.4% in February
Business inventories in the United States increased by 0.4% in February compared to the month before, and reached $2,686.8 billion, the US Census Bureau revealed in its report on Tuesday. On an annual basis, the figure rose by 1.3%. The combined value of trade sales and manufacturers' shipments landed at $2,014.8 billion in the reported month, climbing by 1% month-over-month and by 4% year-over-year. The total ratio of business inventories to sales stood at 1.33 at the end of February, based on seasonally adjusted data, down from last year's ratio of 1.39.
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