Business Inventories Rise as Sales Drop to 10-Month Low
Business inventories rose 0.4% in January, but sales dropped 0.9% to a 10-month low, the Commerce Department reported March 13.
The rise in inventories follows a 0.5% increase in December. Economists had forecast inventories to rise 0.4%, Reuters reported.
Businesses accumulated a large amount of stock in the second half of 2013 and are expected to order fewer goods, undercutting growth in the first quarter, Reuters reported.
Retailer inventories rose 0.7%, the largest gain since July 2013, after a 0.6% increase the prior month, Commerce said.
When sales are growing, trucking usually faces additional demand to deliver goods.
