Wholesale Inventories Up In June, Sales Fall
WASHINGTON (AP) -- Inventories at the wholesale level edged up slightly in June but sales fell by the largest amount in 15 months.
The Commerce Department says wholesale inventories rose 0.1 percent in June. Sales fell 0.7 percent. It marked the second straight drop in sales, providing further evidence that the economy was slowing in the spring.
Businesses helped drive the early stages of the recovery last year by building up their stocks after slashing them during the recession. The worry is that if consumer demand falters, business could cut back on their inventory restocking and deal a blow to manufacturing production.