U.S. Wholesalers Reduce Inventories
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From Bloomberg News
U.S. wholesalers in August unexpectedly reduced their inventories to the lowest percentage of sales ever as companies sold from stockpiles to meet demand.
The 0.2% decrease in wholesale inventories to $288.6 billion sets the stage for a pickup in economic growth and production in the fourth quarter as companies restock.
Sales by distributors rose 0.4% after gaining 0.5% in July, the Commerce Department said.
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