The U.S. Commerce Department released wholesale inventories on Friday. Wholesale inventories in the U.S. declined 0.5% in February, missing expectations for a 0.1 decline, after a 0.2% fall in January. It was the largest fall since May 2013.
January’s figure was revised down from a 0.2% rise.
The decrease was mainly driven by a decline in inventories of non-durable goods. Inventories of non-durable goods decreased 1.1% in February, while inventories of durable goods fell 0.1%.
Wholesale sales slid 0.2% in February, after a 1.9% fall in January.
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