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United States Stockpiles Incresed .4% in February

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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.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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