Wholesale Inventories Decline 0.1%

Wholesale inventories fell 0.1% in September, the first drop in almost two years, the Commerce Department said Friday.

The decline followed a revised 0.6% increase in August, Commerce said.

Sales decreased 1.5%, after a 1.6% drop in August.

The inventory reading was lower than the 0.3% increase forecast by economists, Bloomberg reported.

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