Wholesale inventory drops more than expected

09/14/2009 | Forbes

Wholesale inventory dropped 1.4% in July, a greater decline than the 1% economists had forecast, according to the Commerce Department. Durable-goods inventory fell 1.5%, but wholesale sales surprised with a 0.5% gain. Inventories were down 12.8% compared with July 2008, while sales were 19.8% lower.

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