Wholesale Inventories Fall for Record Eleventh Month

Wholesale inventories fell in July for the eleventh consecutive month, the Commerce Department said Friday.

The 1.4% decline marked the longest streak of consecutive decreases and followed a revised 2.1% downturn in June, Commerce said. Wholesale sales rose 0.5%, the third consecutive gain.

Economists had forecast inventories to fall 1%, Bloomberg reported.

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