U.S. wholesale inventories, sales fall in December

U.S. wholesale inventories slipped in December for a third straight month as businesses continued to reduce unsold merchandise, suggesting the advance fourth-quarter economic growth estimate could be revised slightly lower. The Commerce Department said on Tuesday wholesale inventories dipped 0.1 percent. November inventories were revised down to show a 0.4 percent drop instead of the previously reported 0.3 percent decline.