Wholesale Inventories Fall for Record 12th Month

Wholesale inventories fell in August for the 12th consecutive month, the Commerce Department said Thursday.

The 1.3% decline marked the longest streak of consecutive decreases and followed a revised 1.6% downturn in July, Commerce said. Wholesale sales rose 1%, the highest gain since June 2008.

Economists had forecast inventories to fall 1%, Bloomberg reported.

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