Wholesale Inventories Decline in June

Wholesale inventories fell 0.2% in June, after a decline the prior month, the Commerce Department reported Friday.

Sales increased 0.4% in June, after a 1.6% rise the prior month. The drop in inventories followed a 0.6% decline in May that was larger than originally reported.

Durable goods stockpiles were little changed, Commerce said.

Economists had called for a 0.4% gain in wholesale inventories, Bloomberg News reported.

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