U.S. wholesale inventories increased less than expected in February as sales rose for a second straight month.
The Commerce Department said on Wednesday wholesale inventories climbed 0.2 percent to a record $668.9 billion.
Economists polled by Reuters had forecast inventories at wholesalers rising 0.5 percent in February. The component of wholesale inventories that goes into the calculation of gross domestic product gained 0.2 percent in February. The economy grew at a 2.2 percent rate in the fourth quarter, stepping down from the July-September period's brisk 3.4 percent pace. The inventory build, however, will likely weigh on GDP in the second quarter as businesses place fewer orders with manufacturers while disposing the unwanted goods.
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