US Retail Inventories See Surges During Last Month
Date
3/29/2023 2:26:42 AM
(MENAFN) According to data released by the Commerce Department's Census Bureau on Tuesday, retail inventories in the US increased 0.8 percent in February from the previous month. The figure measures the change in the total value of goods held in inventory by the nation's retailers and was estimated at USD747.3 billion. This increase comes after a revised gain of 0.1 percent in January, which was previously reported as an increase of 0.2 percent.
The rise in retail inventories in February indicates that retailers are stocking up on goods in anticipation of increased demand in the coming months. This could be a positive sign for the economy, as it suggests that consumers are becoming more confident and are spending more money on goods and services.
On an annual basis, retail inventories in January were up 10.8 percent from the same month of last year. This is a significant increase and indicates that retailers are optimistic about future growth prospects. The rise in inventories is also a positive sign for manufacturers, as it suggests that retailers are confident in their ability to sell goods in the coming months.
Overall, the rise in US retail inventories in February is a positive sign for the economy. It suggests that retailers are optimistic about growth prospects and are stocking up on goods in anticipation of increased demand. This could lead to increased production and hiring in the coming months, which would further support economic growth. However, it remains to be seen whether this trend will continue as the economy continues to recover from the effects of the COVID-19 pandemic.
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