Wholesale Inventories Grow Slightly in January, Sales Slide

Wholesale stockpiles of U.S. businesses rose slightly in January while sales took their biggest dive in six years.

The latest report from the U.S. Census Bureau shows stockpiles up by 0.3% in January following a flat December.

Sales were down in 3.1% in January, adding to December's 0.9% drop. It's the fourth month in a row sales have fallen and the biggest drop since sales fell 3.6% in March of 2009.

Automobile inventories led the way with a rise of 1.6% and furniture stockpiles were up 1.2%. Petroleum stockpiles were down in January by 1.1%.

Follow this link for the full Manufacturing & Trade Inventories & Sales report.