The Commerce Department said on Wednesday the U.S. wholesale inventories increased 0.2 percent m-o-m in February, following a revised 1.2 percent m-o-m advance in January (originally, a gain of 1.4 percent m-o-m).

Economists had forecast wholesale inventories rising 0.5 percent m-o-m in February.

On a y-o-y basis, wholesale inventories surged 6.9 percent.

According to the report, wholesale auto stocks edged up 0.1 percent m-o-m in February, while apparel inventories climbed 1.8 percent m-o-m. Meanwhile, sales at wholesalers rose 0.3 percent m-o-m in February, due to increases in sales of motor vehicles, furniture, professional equipment and electrical goods. But sales of wholesale groceries declined 2.1 percent m-o-m, the most since April 2004.