Inventories at U.S. businesses fell 1 percent in May, according to the U.S. Department of Commerce.
Retail inventories fell 1.6 percent during the month, led by substantial drops in automobile inventories. Overall, inventories are down 8 percent compared to a year ago and business sales have declined 0.1 percent during the same time.
Over the past year, sales have decreased by 17.8 percent.
