Wholesale inventories slow in November

JAN 09, 2009
Wholesale inventories posted a record 0.6% decline in November as sales continued to slow, according to the Department of Commerce. The November decline was smaller than the revised 1.2% decline recorded in October and slightly lower than the 0.7% decline predicted by economists surveyed by Briefing.com Inc. of Chicago. Wholesale sales for November fell a record 7.1% following a decline of a revised 4.5% in October. Durable goods dragged down November sales, which fell by a record 6.1% from October. Petroleum sales dropped 25.1% from October, while sales of autos and auto parts fell by a record 10.6%.

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