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Economic news
15.05.2024

U.S. business inventories drop 0.1 per cent in March, matching expectations

The Commerce Department informed on Wednesday that the U.S. business inventories edged down 0.1 per cent m-o-m in March, following a downwardly revised 0.3 per cent m-o-m rise (from +0.4 per cent m-o-m) in February. This was in line with economists’ forecast of a 0.1 per cent m-o-m slip and marked the first decrease in business inventories in three months. 

According to the report, inventories at merchant wholesalers plunged 1.3 per cent m-o-m in March, while stocks at retailers jumped 0.8 per cent m-o-m and those at manufacturers increased 0.3 per cent m-o-m.

In y-o-y terms, business inventories surged 2.1 per cent in March.

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