(wire)
Wholesale inventories fall in December
U.S. wholesale inventories fell unexpectedly, down 0.8 percent in December, while sales rose 0.8 percent, according to a report today by the Labor Department.
Analysts had predicted inventories would rise 0.5 percent and sales would increase 1 percent.
In November, increases in inventories were revised up to 1.6 percent, while sales were revised up to 3.6 percent.
In January, the Commerce Department reported that the U.S. economy grew at a rate of 5.7 percent during the fourth quarter, the fastest pace in more than six years.
Analysts had predicted inventories would rise 0.5 percent and sales would increase 1 percent.
In November, increases in inventories were revised up to 1.6 percent, while sales were revised up to 3.6 percent.
In January, the Commerce Department reported that the U.S. economy grew at a rate of 5.7 percent during the fourth quarter, the fastest pace in more than six years.
