By Ovunc Kutlu
ISTANBUL (AA) - US business inventories decreased 0.1% to $2,539 billion in March, according to Commerce Department figures released Wednesday.
The expectation for the figure was to show no change.
The figure for February was revised from a gain of 0.4% to an increase of 0.3% to $2,540.7 billion.
Business inventories, which measure the change in value of unsold goods held by manufacturers, wholesalers and retailers, were annually up 0.7% in March, compared to the same month in 2023.
The annual increase in inventories indicates that consumer demand is weakening in the US as a result of the Federal Reserve's aggressive monetary tightening to lower record inflation.