US business inventories edged down by 0.1% month-over-month in January 2026, after a revised flat reading in December, defying analysts' forecasts of a 0.1% rise. Stocks declined at merchant wholesalers (-0.5% vs -0.1% in December), more than offsetting increases for retailers (0.3% vs 0.1%) and manufacturers (0.1% vs 0.1%). On a yearly basis, total business inventories advanced by 1%.