Wholesale inventories fall for third month in row
Inventories dropped 0.1% to a seasonally adjusted $582 billion, the Commerce Department said Tuesday. Annualized growth in restocking slowed to 1.9% from a 6% pace early last year.
Sales for wholesalers fell 0.3% in December. From December 2014 to December 2015, wholesale sales sank 4.5%, mostly because of less demand for metals used in an array of goods.
In November, wholesale inventories were revised to show a 0.4% decline instead of 0.3%.