Wholesale Inventories Up 0.7%

Washington, DC, March 9, 2007—Wholesale inventories bounced back in January, more than reversing a decline in December that economists thought would position the economy for strong growth in the months ahead.

Wholesale inventories rose by 0.7%, the Commerce Department reported, following an unrevised drop of 0.5% in December. Sales at wholesalers fell by 0.9% in January.

The inventory-to-sales ratio rose to 1.19 as a result, from 1.17 in December.