Financial News: U.S. Wholesale Inventories Decrease In Line With Estimates

U.S. Wholesale Inventories Decrease In Line With Estimates In January

03/07/2023 - 10:41:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Tuesday showed wholesale inventories in the U.S. decreased in line with economist estimates in the month of January.

The Commerce Department said wholesale inventories fell by 0.4 percent in January after inching up by 0.1 percent in December. The drop matched expectations as well as the preliminary estimate.

The decline by wholesale inventories came as inventories of non-durable goods slumped by 0.9 percent for the second straight month, while inventories of durable goods edged down by 0.1 percent in January after climbing by 0.7 percent in December.

Meanwhile, the report said wholesale sales jumped by 1.0 percent in January after slipping by 0.2 percent in the previous month.

Sales of non-durable goods shot up by 1.3 percent in January after increasing by 0.7 percent in December, while sales of durable goods advanced by 0.7 percent after rising by 0.5 percent.

With inventories falling and sales surging, the inventories/sales ratio for merchant wholesalers dipped to 1.34 in January from 1.36 in December.

Next Wednesday, the Commerce Department is scheduled to release a report on business inventories, which include wholesale, retail and manufacturing inventories.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Eurozone Trade Gap Narrows In January (36 min(s), 24 sec(s) ago)
(RTTNews) - Euro area trade deficit narrowed at the start of the year as the pace of fall in impor ...Full Story»

Poland Industrial Output Contracts; Producer Price Inflation At 1-Year Low (01 hr(s), 10 min(s), 24 sec(s) ago)
(RTTNews) - Poland's industrial production declined for the first time in thirty-three months ...Full Story»

Taiwan Export Orders Continue To Fall In February (02 hr(s), 34 min(s), 24 sec(s) ago)
(RTTNews) - Taiwan's export orders continued to decline in February, data released by the Mini ...Full Story»

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (04 hr(s), 31 min(s), 24 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (05 hr(s), 58 min(s), 24 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»

European Economic News Preview: Eurozone Foreign Trade Data Due (06 hr(s), 38 min(s), 24 sec(s) ago)
(RTTNews) - Foreign trade from the euro area and producer prices from Germany are the top economic ...Full Story»

China Retains Benchmark Lending Rates As Expected (06 hr(s), 57 min(s), 24 sec(s) ago)
(RTTNews) - China retained its benchmark lending rates for the seventh straight month on Monday af ...Full Story»

China Loan Prime Rate Due On Monday (16 min(s), 36 sec(s) ago)
(RTTNews) - The People's Bank of China will announce its latest loan prime rate numbers, highl ...Full Story»