U.S. wholesale inventories surge 1% in February

Wholesale inventories in the U.S. jumped 1% in February following a similarly large gain in January, the Commerce Department said Tuesday. Inventories are up a strong 5.5% year over year. At February's sales pace, the inventory-to-sales ratio rose to 1.28 from 1.26. Higher inventories add to GDP, so first-quarter projections could go up a bit.