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WASHINGTON —U.S. wholesalers increased their stockpiles in July from June, but sales fell for a third straight month.
Declining sales could force companies to cut inventories in coming months, a troubling sign that economic growth could weaken.
The Commerce Department said Wednesday that wholesale stockpiles grew 0.7 percent in July, the biggest increase in five months. Sales fell 0.1 percent following declines of 1.4 percent in June and 1.1 percent in May. That marked the longest stretch of weakness since seven straight monthly declines ending in January 2009. The slump means it will take wholesalers longer to clear out their stockpiles and could result in cutbacks in orders to factories.
