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The U.S. Commerce Department released wholesale inventories on Thursday. Wholesale inventories in the U.S. rose 0.3% in February, missing expectations for a 0.1% gain, after a 0.4% increase in January. January's figure was revised down from a 0.3% rise.
The increase was driven by lower wholesale sales. Wholesale sales declined by 0.2% in February, driven by a 2.4% fall in sales of durable goods.
Inventories of durable goods increased 0.3% in February, while inventories of non-durable goods climbed by 0.2%.
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