US business inventories fall 0.1% in January

ISTANBUL

Business inventories in the US fell 0.1% to approximately $2.47 trillion in January, according to Commerce Department figures released Wednesday.

The figure came against the market expectations of a 0.1% gain, while it follows a 0.3% increase in December that stood at more than $2.48 trillion.

Business inventories, which measure the change in the value of unsold goods held by manufacturers, wholesalers, and retailers, annually increased by 11.1% in January, compared to the same month of the previous year.

An increase in inventories indicates there is a lack of consumer demand as the Federal Reserve continues aggressive monetary tightening to lower record inflation.​​​​​​​