The Commerce Department announced on Wednesday that business inventories fell 0.4 percent m-o-m in February, following a revised 0.3 percent m-o-m decline in January (originally, a drop of 0.1 percent m-o-m).

That was in line with economists' forecast for a 0.4 percent m-o-m decrease.

According to the report, stocks at wholesalers fell 0.7 percent m-o-m in February, while those at manufacturers reduced 0.4 percent m-o-m, and retail inventories declined 0.3 percent m-o-m.

In y-o-y terms, business inventories edged down 0.1 percent in February.