US wholesale stockpiles fell 0.2 percent in June

WASHINGTON • U.S. wholesalers cut their stockpiles in June for a third straight month even as their sales rose again. The combination suggests businesses have underestimated demand, a trend that could lead to stronger economic growth in coming months. The Commerce Department said Friday that wholesale stockpiles fell 0.2 percent in June from May. That follows a 0.6 percent drop in May — the biggest in 20 months — a modest 0.1 percent decline in April. Wholesalers haven’t shrunk their stockpiles ...

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