Inventories at U.S. wholesalers rose more than forecast in January as distributors tried to keep pace with sales that rose by the most since November 2009.
The 1.1 percent increase in stockpiles followed a revised 1.3 percent gain in December that was bigger than initially estimated, the Commerce Department said today.
The median projection in a Bloomberg News survey was for a 0.9 percent rise.
Sales jumped 3.4 percent in January, led by cars, computers and commodities.
The amount of goods in inventory compared with purchases matched a record low in January, pointing to further gains in manufacturing, the mainstay of the expansion. Stockpiles may add to growth this quarter as businesses try to keep more on shelves.
“It’s a sign of strength in the economy,” said Eric Green, chief market economist at TD Securities Inc. in New York, who projected a 1 percent gain in January. “You saw a big correction in the pace of inventory growth last quarter, and now it’s going to be very supportive of growth.”
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