91ÊÓƵ

Wholesale inventories fell 0.7% in January, one quarter of the decline in sales for the same month, the Commerce Department said Tuesday.

The decline followed a revised 1.5% downturn in December, Commerce said. Sales fell 2.9%.

The decline was greater than the 1% drop forecast by economists, Bloomberg reported. The drop marked the fifth straight month of decline, the longest stretch in seven years.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.