WASHINGTON (Oct 7): US wholesale inventories in August fell more than previously reported as businesses ran down their stocks of farm goods and clothes, the Commerce Department reported on Friday. Inventories dropped 0.2% during the month, the department said. The department's new monthly advance economic indicators report published last month had estimated that wholesale inventories fell 0.1% in August. The component of wholesale inventories that goes into the calculation of GDP — wholesale stocks excluding autos — fell 0.3% in August. At August's sales pace it would take wholesalers 1.33 months to clear shelves, up from 1.34 months in July.

Source: The Edge Markets October 07, 2016 15:00 UTC