Summary Box: Sales of wholesale goods drop

AP News
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Posted: Apr 08, 2011 6:37 PM
Summary Box: Sales of wholesale goods drop

SALES DOWN: Wholesale businesses sold fewer cars, pieces of furniture and petroleum products in February, sending sales down 0.8 percent, the first decline since last June.

INVENTORIES UP: Inventories at the wholesale level rose 1 percent in February, the 14th monthly increase, leaving stockpiles 13.4 percent higher than the low reached in September 2009.

OUTLOOK: Economists believe that the slip in sales was temporary and businesses will keep adding to their inventories in coming months, which will give a boost to factory production.