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July 9, 2009

May wholesale inventories fall, 9th straight drop

WASHINGTON (AP) — Wholesale inventories fell for a ninth consecutive month in May as businesses struggle to trim stockpiles amid the longest recession since World War II.

The Commerce Department says inventories dipped 0.8 percent in May, slightly smaller than the 1 percent decline economists had expected.

Sales at the wholesale level posted a 0.2 percent rise in May, better than the expected flat reading. It was the best showing for sales since a similar rise in February.

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