US wholesale inventories increased 0.3% MoM (vs 0.3% MoM expected) in February, following an 0.8% MoM increase in January.

• Total wholesale sales jumped 2.4% MoM in February, reversing the -0.9% MoM decline in January.
• Durable inventories increased 0.2% MoM, and nondurable inventories increased 0.5% MoM.
• On an annual basis, inventories are up 1.1% YoY with durables up 0.4% YoY and nondurables up 2.3% YoY.
• The inventories/sales ratio fell to 1.30x (vs 1.36x previously) as a result of the strong increase in wholesale sales.