The Commerce Department announced on Friday that business inventories fell 0.2 percent m-o-m in March, following a revised 0.5 percent m-o-m decline in February (originally, a drop of 0.4 percent m-o-m).

That was in line with economists' forecast for a 0.2 percent m-o-m decrease.

According to the report, stocks at wholesalers and manufacturers fell 0.8 percent m-o-m each in March, while those at retailers rose 1.0 percent m-o-m.

In y-o-y terms, business inventories edged down 0.3 percent in March.