Inventories Fall 0.8% With Sales Up the Same Amount

Wholesale inventories declined 0.8% in December, the first decrease in two months, contrary to economists’ expectations of an increase, the Commerce Department reported yesterday.

Meanwhile, wholesale sales increased 0.8% as durable goods sales increased 3.0%.

Economists polled by Thomson Reuters expected inventories to increase 0.5% and for sales to increase 1.0%, according to the median estimate.

Inventories for November were revised higher to a 1.6% increase from 1.5% reported last month.

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