US Wholesale Stockpiles Post Biggest Drop in Almost three Years

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Source:   —  April 08, 2016, at 5:40 PM

S. wholesale businesses reduced their stockpiles for the fifth straight mo in February, while their sales dropped for the fourth straight month.

The Commerce Dept says U. S. wholesale businesses reduced their stockpiles for the fifth straight mo in February, while their sales dropped for the fourth straight month.

Inventories held by wholesale businesses slid 0.5 % from January. It was the biggest drop since a 0.6 % reduce in May 2013.

Sales fell 0.2 % in February, the smallest drop since sales were flat in October.

The numbers reflect sluggish economic growth. U. S. businesses have struggled over the past year with spreading weakness overseas and a powerful dollar, which makes American products less competitive on foreign markets.

The U. S. economy expanded at a lackluster one.4 % annual pace from Oct through December. Many economists expect growth to arrive in below 1 % in the first three months of 2016.

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