Wholesale Inventories Tumble
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U.S. wholesalers’ inventories took the biggest tumble in more than three years during December as overall demand for their goods raced forward. Separately, the number of U.S. workers filing new claims for unemployment benefits rose less than expected last week to levels that remain consistent with steady growth in employment. Wholesale inventories decreased by 0.5% in 2006’s final month to a seasonally adjusted $393.76 billion, the Commerce Department said Thursday. The drop, the sharpest since a 0.6% decline in May 2003, surprised Wall Street, which expected a 0.5% gain. November inventories rose by 1.1%, adjusted from a previously … More : online.wsj.com |