February Business Inventories Fall 0.1%
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U.S. inventories fell in February for a 13th straight month as sales declined, suggesting businesses will be slow to add to stockpiles until a recovery gathers speed.
The 0.1% drop in stocks of unsold goods, reflecting declines at wholesalers and manufacturers, matched January’s decrease, the Commerce Department said. Business sales fell 0.9% in February, after a 0.9% January rise.
The inventory-sales ratio, which measures the time goods sit on shelves, rose to 1.38 months in February from 1.37 months in January.
Separately, the National Assn. of Home Builders’ housing market index held at 60 in April, the highest since November 2000.
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