U.S. wholesale inventories fall for second straight month

(Reuters) – U.S. wholesale inventories unexpectedly fell for a second straight month in June, prompting economists to trim their second-quarter economic growth estimates.

The Commerce Department said on Friday wholesale inventories fell 0.2 percent after declining 0.6 percent in May.

This was weaker than the government had assumed in its advance estimate of second-quarter gross domestic product published last week, which put growth at a 1.7 percent annual pace.  Read more

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