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The U.S. Commerce Department released the business inventories data on Tuesday. The U.S. business inventories rose 0.3% in February, missing expectations for a 0.2% increase, after a flat reading in January. December's figure was revised up from a 0.1% rise.
The increase was driven by a rise in retail inventories. Retail inventories climbed 0.4% in February.
Business sales remained unchanged in February.
The business inventories/sales ratio remained unchanged at 1.36 months in February. The business inventories /sales ratio is a measure of how long it would take to clear shelves.
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