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Sales of merchant wholesalers in the United States continued to pick up in February, in line with the increase recorded in inventories during the period.
Source: US Census Bureau
QQQ is down 0.90%, while SPYG is down 0.66%.
Seasonally adjusted sales for the month stood at $675.8 billion, up 1.7% from the previous month’s revised level and 25.5% higher than the same month last year. This follows the 5.0% growth in the previous month.
Inventories were recorded at $818.2 billion in February, marking a 2.5% increase from the revised level in January and a 19.9% increase from the revised level in the same month last year. This is higher than the 2.1% earlier announced.
The seasonally adjusted ratio of inventories and sales for merchant wholesalers fell to 1.21 from the 1.71 the same month last year.
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