February 26, 2015
WASHINGTON (AP) - The government says wholesalers cut back on their inventories in December by the largest amount in 16 years, as companies slashed stockpiles amid the deepening recession.
The reduction means wholesalers ordered fewer new goods, leading to reduced production and potentially more job layoffs.
The Commerce Department says wholesale inventories fell 1.4 percent, nearly double analysts' expectations of 0.8 percent. It also was the fourth straight monthly decline.
Sales at the wholesale level dropped 3.6 percent, slightly steeper than analysts' expectations, but less than November's record 7.3 percent drop.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.