Business inventories were down 1.1% and sales levels rose 0.1% in June, according to Commerce Department data released yesterday.
Business inventories slid to $1.350 billion following a revised 1.2% decline to $1.365 billion in May, originally reported as a 1.0% decrease to $1.368 billion. Thomson Reuters had projected that business inventories would be off 0.9% in the month. Overall inventories were 9.8% below the June 2008 level, according to Commerce.
Stocks of autos fell 2.8% in June, following May’s 4.4% decrease.
The 0.9% increase in overall sales brought the category to $975.8 million.