BLOOMBERG PRESS: U.S.WHOLESALE INVENTORIES, SALES FELL IN DECEMBER (UPDATE2)
Bloomberg Press Excerpt:
Inventories at U.S. wholesalers fell twice as much as forecast in December as businesses tried to keep up with plummeting sales.
The 1.4 percent decline in the value of stockpiles followed a revised 0.9 percent decrease in the prior month, the Commerce Department said today in Washington. It was the fourth straight monthly drop, the longest such stretch in almost seven years. Sales fell 3.6 percent after a 7.3 percent decline.
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