Business inventories dropped 1.0% and sales levels fell 0.1% in May, according to Commerce Department data released yesterday.

Business inventories slid to $1.368 billion following a revised 1.3% decline to $1.382 billion in April, originally reported as a 1.1% decrease to $1.385 billion. Thomson Reuters had projected that business inventories would be off 0.8% in the month. Overall inventories were 8.0% below the May 2008 level, according to Commerce.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.