Sales of wholesale goods fell a seasonally adjusted 1.4 percent in April, the biggest decline since January 1991, the Commerce Department said Tuesday.
April wholesale sales reached $144.76 billion, with the largest decreases in raw farm products, down 7 percent; machinery and equipment, down 5.2 percent; and metals and minerals, also down 5.2 percent.The 1.4 percent April drop in wholesale sales follows a downwardly revised 0.3 percent gain in March over February. The April sales figure was 0.1 percent below the April 1991 figure.
The April drop was the largest since January 1991, when sales fell 2. 6 percent.
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In durable goods, wholesale sales were down 2.6 percent.