U.S. Wholesalers Reduce Inventories
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.
