Stocks at U.S. wholesalers shrank in January, the second consecutive monthly decline, Commerce Department data showed Thursday.
Inventories at merchant wholesalers were down 0.5 percent compared with the prior month, according to the seasonally adjusted figures. In December, inventories contracted by 0.1 percent.
The measure of inventories is a key element in the government’s assessment of economic growth. Following the release, the Atlanta Fed’s GDPNOW forecast for first-quarter GDP growth was revised down from 2.7 percent to 2.3 percent.
Inventories of durable goods–products made to last longer than three years–were flat in January after…
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