The Commerce
Department announced on Wednesday its final estimates showed that the U.S.
wholesale inventories advanced by 0.3 per cent m-o-m in February, matching the preliminary estimate.
Economists had predicted
the reading to remain unrevised at +0.3 per cent m-o-m.
In January,
wholesale inventories jumped by
0.8 per cent m-o-m.
According to
the report, durable goods
inventories increased by 0.2 per cent m-o-m in February, reflecting gains
in 5 out of 9 durable industries, driven by Lumber (+1.8 per cent m-o-m), Professional
Equipment (+1.2 per cent m-o-m) and Hardware (+1.2 per cent m-o-m). Meanwhile, stocks
of nondurable goods surged by 0.5 per cent m-o-m, reflecting advances
in 7 out of 9 nondurable businesses, led by Petroleum (+2.4 per cent m-o-m), Paper
(+2.2 per cent m-o-m) and Alcohol (+1.3 per cent m-o-m).
In y-o-y terms, wholesale inventories grew 1.1
per cent in February.