US wholesale inventories fall 0.4% in January

Wholesale inventories decreased 0.40% month-on-month in January, in line with analysts' estimates.

According to the Census Bureau, wholesale inventories slipped to $929.0bn in January, more than erasing the prior month's revised 0.1% increase to $932.9bn.

Total inventories were up 15.8% from the revised January 2022 level.

January sales of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, came to $693.8bn - up 1.0% from the revised December level and 3.6% year-on-year.

Reporting by Iain Gilbert at Sharecast.com