The Commerce
Department reported on Thursday its advance estimate revealed that the U.S.
wholesale inventories declined 0.4 per cent m-o-m in March, following a downwardly
revised 0.4 per cent m-o-m increase (from -0.5 per cent m-o-m) in February. This
marked the steepest monthly decrease in inventories since June 2023 (-0.5 per cent
m-o-m).
Economists had forecast
a 0.2 per cent m-o-m gain.
According to
the report, the March decrease reflected a 1.1 per cent m-o-m fall in
nondurable goods inventories. Meanwhile, durable goods inventories were unchanged
m-o-m.
In y-o-y terms,
wholesale inventories dropped 2.1 per cent in March, as a tumble in nondurable
goods (-9.1 per cent) more than offset an increase in durable goods (+2.4 per
cent) inventories.