U.S. Wholesale Inventories Slide Back in March
By Joshua Kirby
U.S. wholesale inventories decreased in March, reversing the previous month's rise.
Inventories at merchant wholesalers were 0.4% lower on month, in line with economists' expectations, according to Commerce Department figures set out Wednesday. The ratio of inventories to sales--gauging how many months it would lake for wholesalers to exhaust current stocks--rose slightly on month to 1.35.
Nondurable goods led the decline in March, with farm products, alcohol and drugs among the sharpest fallers. Durable goods fell less markedly overall, and some categories including lumber and machinery booked higher inventories over the month.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
May 08, 2024 10:28 ET (14:28 GMT)
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