Business inventories were basically flat in January even though sales rose for an eighth consecutive month, the Associated Press reports.
The Commerce Department said Friday that inventories were unchanged, a weaker reading than the 0.2 percent gain that analysts had expected. Total business sales rose by 0.6 percent, a solid performance that followed an even stronger 1 percent gain in December.
Economists are hoping that businesses will soon start restocking depleted store shelves on a sustained basis, a move that would give a boost to the economic recovery.
The flat reading on inventories followed a 0.3 percent drop in December, which was larger than the 0.2 percent decline previously reported.
