Wholesale Inventories Way Down
NYT –
The Commerce Department says wholesalers, the companies in the supply chain between manufacturers and retailers, reduced their inventories by 1.1 percent in October, the biggest cutback since a similar drop in inventories in November 2001.
The inventory decline was much bigger than the 0.2 percent decrease economists expected.
Sales at the wholesale level declined 4.1 percent in October, the largest decline on record.
-Shlok
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