Washington, DC, March 10—Wholesale inventories were up 1.1 percent in January, according to the Commerce Department.
Wholesale sales increased 0.5 percent, which was the smallest increase since June. The inventory-to-sales ratio rose to 1.15, matching a one-year high.
Economists were expecting inventories to rise 0.6 percent.
The wholesale data confirm that sales remain healthy, with
Inventories are up 12 percent over January 2004 levels. Sales are up 10.2 percent year to date.
Inventories of durable goods increased 1.3 percent, led by a 2.2 percent rise in auto inventories.
Inventories of nondurable goods increased 0.7 percent.
Sales of durable goods fell 0.1 percent in the month, due to a 4 percent drop in computer equipment sales.
Sales of nondurable goods increased 1.1 percent, led by a 5.9 percent rise in drug sales.
