Inventories at the wholesale level fell 0.3 percent in February from the previous month to USD 501.4 billion, but were up 4.7 percent from the same month a year ago. It had a 0.8 percent gain in January, reported Xinhua.
Sales at the wholesale level rose 1.7 percent to USD 422.5 billion, following a 0.8 percent decline in January.
Changes in business inventories is a key component of the changes in gross domestic product. Economists hold that wholesale sales increase is a good sign for economic recovery, as personal consumption accounted for about 70 percent of the total economic activity in the world's largest economy.
--IANS (Posted on 10-04-2013)