Share “US businesses increased stockpiles 0.4...”

US businesses increased stockpiles 0.4 percent

Published on NewsOK Modified: April 14, 2014 at 9:04 am •  Published: April 14, 2014
Advertisement

WASHINGTON (AP) — U.S. businesses boosted their stockpiles in February as sales rebounded by the largest amount in nine months.

The Commerce Department says stockpiles increased 0.4 percent in February following a similar 0.4 percent increase in January. Sales rose 0.8 percent in February, bouncing back after a 1.1 percent sales decline in January that was blamed on the harsh weather that month. It was the biggest one-month sales gain since last May.

A separate report showed a surge in sales at the retail level in March, providing support to the view that stronger consumer spending in coming months will encourage businesses to restock their shelves and provide a boost to the economy.

While the economy slowed in the January-March quarter, many economists are looking for a strong rebound in the current quarter.