"Economic" U.S. January business inventories unexpectedly fell by 0.1%
According to data from the U.S. Census Bureau, U.S. business inventories decreased by 0.1% month-on-month in January this year, contrary to market expectations of a 0.1% increase, following a revised flat reading in December.
Wholesale inventories fell by 0.5%, completely offsetting the increases of 0.3% and 0.1% in retail and manufacturing inventories, respectively.
On a year-on-year basis, total business inventories grew by 1%
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