WASHINGTON (AP) — U.S. wholesale businesses increased their stockpiles by a modest amount in February, while sales kept falling.
The Commerce Department says wholesale stockpiles edged up 0.3 percent in February after a 0.4 percent gain in January. Sales dropped 0.2 percent following a 3.6 percent decline in January, which was the largest decrease in six years. Sales have either fallen or been flat for the past seven months.
Economic growth has slowed over the past six months, but economists are looking for a rebound this quarter led by stronger consumer spending. If consumers do return to stores after a winter break, the renewed demand is expected to boost inventory building in future months.