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.