Businesses Cut Inventories Again in December
Businesses cut their December inventories by the sharpest amount in seven years, as they worked to slash overhead while dealing with dismal holiday retail sales, the Commerce Department reported this morning.
Inventories were cut 1.3 percent; analysts expected a 0.9 percent cut.
It marked the fourth straight month that businesses cleaned out their stock rooms, but they're having a hard time keeping up: Sales are dropping faster than they can cut inventories.
February 12, 2009; 12:01 PM ET
Categories: The Ticker | Tags: Commerce Department, contraction, inventories
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