Wholesalers' Inventories Down in August

U.S. wholesale companies were making progress in paring down swollen inventories as sales held up reasonably well prior to the Sept. 11 attacks on the United States, a Commerce Department report showed on Wednesday. 

Commerce said wholesale inventories eased 0.1 percent in August to $298.68 billion after a 0.9 percent reduction in July. 

Meanwhile, wholesale sales rose 0.6 percent to $229.31 billion following a 0.7 percent rise in July. 

The closely watched stock-to-sales ratio, which measures how long it would take to deplete current inventories, slipped to 1.30 months in August from 1.31 in July.