Wholesale Inventories Drop in June

Wholesale inventories dropped 0.2% in June as sales decreased, the Commerce Department said Thursday.

The inventories drop followed no change in May. Sales dropped 1.4%, the biggest decline since March 2009.

Durable goods stockpiles rose 0.2% and non-durables fell 0.8%.

Economists projected a 0.3% gain, Bloomberg reported.

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