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Wholesale Inventories Decline 0.2%

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1/11/2011 10:20:00 AM

Wholesale inventories declined 0.2% in November, the Commerce Department said Tuesday.

The decline followed a revised 1.7% increase in October that was originally reported as a 1.9% gain.

Economists predicted November inventories would rise 1%, Bloomberg reported. Wholesale sales rose 1.9%.

Stockpiles of durable goods that are meant to last at least several years rose 0.3%, while inventories of non-durables declined by 0.9%.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.

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