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US wholesale inventories tick higher in January

U.S. wholesale inventories edged up by 0.8% month over month in January and rose 4.8% from the previous year, the U.S. Census Bureau said.

Total inventories of merchant wholesalers, except manufacturers' sales branches and offices, rose to a seasonally adjusted $619.05 billion at the end of January from an upwardly revised $613.94 billion in December 2017.

Sales of merchant wholesalers fell 1.1% to $492.56 billion in January from a downwardly revised $498.15 billion in the previous month. In annual terms, sales rose 6.7%.

The inventories-to-sales ratio stood at 1.26 in January from 1.28 in January 2017.