Inventories fall for 10th straight month in June

08-13-2009 • AP

Businesses reduced inventories for a 10th straight month in June, although total business sales posted the first increase in nearly a year. The Commerce Department said Thursday that businesses cut stockpiles 1.1 percent in June, slightly larger than the 0.9 percent drop economists expected. The reductions have translated into sharp production cutbacks at factories, adding to the steep recession.