US wholesale inventories rise as sales decline in January

US wholesale inventories rose in January, driven by durable goods stocks, while wholesale sales declined during the month.

The final reading from the US Census Bureau, on March 6, showed that inventories of unsold goods at wholesalers increased by 0.8% month-on-month (MoM) to $906.2 billion.

The wholesale inventories were up 1.2% year-on-year (YoY), while wholesale sales dropped 1.3% MoM to $680 billion.

Additionally, durable goods inventories rose 0.8% YoY, while non-durable goods inventories grew 1.9%, the data showed.