Business inventories were down 1.3% and sales levels fell 3.2% in December, according to Commerce Department data released yesterday.
Business inventories slid to $1.461 billion following a revised 1.1% decline to $1.480 billion in November, originally reported as a 0.7% decrease to $1.485 billion. Thomson Reuters had projected that business inventories would be off 0.8% in the month.
Meanwhile, the 3.2% decrease in overall business sales brought the category to $1.017 billion. The December figure followed a revised 5.7% decrease to $1.051 billion in November, originally reported as a 5.1% drop to $1.057 billion.