Business Inventories See Largest Decline Since 2001

Business inventories fell 1.3% in December, the fourth consecutive month of decline and the largest drop since 2001, the Commerce Department said Thursday.

The decline in goods unsold at factories, retailers and wholesalers followed a revised 1.1% decrease in November. Sales dropped 3.2%, the seventh consecutive decrease.

The decline was larger than the 0.9% forecast by analysts, Bloomberg reported.

When sales are growing, it usually means trucking is seeing additional demand to deliver goods and restock shelves.

Higher inventories mean goods are not being sold at a rapid pace, which could lower demand for trucking services.