Business Inventories Fall 0.5%, Commerce Reports

usiness inventories fell 0.5% in July, the Commerce Department said Thursday.

The value of goods on hand at manufacturers, retailers and wholesalers fell to at $1.27 trillion, Commerce said.

Inventories dropped to a record low relative to sales, led by a decline in auto stockpiles, Bloomberg reported.

hen inventories and sales are growing, it usually means trucking is seeing additional demand to deliver goods and restock shelves.

Retailers’ inventories fell 1.8% following a 0.5% drop in June. Auto dealers’ inventories fell 5.4% after declining 2.3% a month earlier.