Wholesale Inventories Shrink for Seventh Month

Washington, DC, May 8, 2009--U.S. wholesale inventories shrank for the seventh month in a row in March to $411.7 billion, their lowest since November 2007, government data showed on Friday.

Inventories dropped 1.6 percent after falling a revised 1.7 percent in February, which the Commerce Department said was the largest decline since it began keeping records in 1992.

Analysts had expected wholesalers' stocks to only drop 1.0 percent.