US wholesale inventories decline

Washington, April 10 (IANS) US wholesale inventories posted a month-to-month decline in February while sales rebounded, US Commerce Department said.

Inventories at the wholesale level fell 0.3 percent in February from the previous month to $501.4 billion, but were up 4.7 percent from the same month a year ago. It had a 0.8 percent gain in January, reported Xinhua.

Sales at the wholesale level rose 1.7 percent to $422.5 billion, following a 0.8 percent decline in January.

Changes in business inventories is a key component of the changes in gross domestic product. Economists hold that wholesale sales increase is a good sign for economic recovery, as personal consumption accounted for about 70 percent of the total economic activity in the world’s largest economy.

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