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U.S. business inventories up slightly in March

Xinhua, May 13, 2015 Adjust font size:

U.S. business inventories and sales posted moderate increases in March, echoing the stalling economic growth in the first quarter, the latest figure released by the Department of Commerce showed on Wednesday.

Inventories rose 0.1 percent in March, and the combined sales by manufacturers, wholesalers and retailers increased 0.4 percent.

The total business inventories-to-sales ratio, a figure measuring the time span of the inventories being sold, stood at 1.36 by the end of March, up from 1.3 in the previous month.

It is normally interpreted as a positive sign of the economy when businesses boost their stockpiles. Higher business inventories indicate stronger economic confidence and would contribute to the growth of the gross domestic product.

The U.S. economy barely grew in the first quarter due to the harsh winter weather. Growth is expected to regain momentum in the coming months with the harsh weather impacts waning. Endi