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- U.S. wholesale inventories unexpectedly fall in March
U.S. wholesale inventories unexpectedly fall in March
The
Commerce Department said on Thursday the U.S. wholesale inventories decreased
0.1 percent m-o-m in March, following a revised 0.4 percent m-o-m advance in February
(originally, a gain of 0.2 percent m-o-m). That marked the first decline in wholesale
inventories since October 2017.
Economists
had forecast wholesale inventories being flat m-o-m in March.
On
a y-o-y basis, wholesale inventories surged 6.7 percent.
According
to the report, wholesale auto stocks decreased 0.9 percent m-o-m in March,
while apparel inventories climbed 1.7 percent m-o-m.
Meanwhile,
wholesale sales jumped 2.3 percent m-o-m, following an unrevised 0.3 percent
m-o-m gain in February. There were increases in sales of motor vehicles,
furniture, professional equipment and electrical goods.
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