Inventories fall for 10th straight month in June

WASHINGTON (AP) The Commerce Department says 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.

But in an encouraging sign for the future, the government says business sales at all levels rose 0.9 percent in June after being flat in May. It marked the first increase in total sales since July 2008.

    MORE BUSINESS NEWS | TWEET@ABC30 | FREE ABC30 WIDGET
-----------------------------------------------------------------------------------------------
Sign up for Breaking News Alerts
Breaking News E-Mail Alerts | Text Message Alerts
-----------------------------------------------------------------------------------------------
More News on abc30.com
Local | California/State | National | Weather | Entertainment | Politics | Sports | Health Watch | Consumer Watch | Mr. Food |
-----------------------------------------------------------------------------------------------