09.04.202614:10:54UTC+00US Wholesale Inventories Defy Expected Fall

US wholesale inventories increased 0.8% month-over-month to $919.6 billion in February 2026, the largest gain since January 2025, following a downwardly revised 0.3% decline in January. The result sharply contrasted with market expectations for a 0.4% drop.

Nondurable goods inventories rose 1.0%, rebounding from a 1.1% fall in the previous month. Strong increases in farm products (6.2% vs -2.1%) and petroleum (5.2% vs 3.2%) more than offset modest declines in miscellaneous nondurables (-0.3%) and groceries (-0.2%).

Durable goods inventories also accelerated, climbing 0.8% after a 0.2% gain in January. The increase was driven primarily by miscellaneous durable goods (2.5% vs 1.1%), electrical goods (1.5% vs 1.6%), professional equipment (0.8% vs 1.1%), machinery (0.7% vs 0.1%), and hardware (0.6% vs -0.9%).

On an annual basis, wholesale inventories were up 1.8% in February.