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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	9/17/2001 11:30:43 AM
From: Softechie	of 37746

Business Inventories Fall Business Inventories Decline for the Sixth Straight Month; Sales Post Solid Increase By JEANNINE AVERSA Associated Press Writer WASHINGTON (AP) -- Businesses showed progress whittling inventories of unsold goods in July, marking the sixth month in a row that inventories have declined. Sales posted a solid increase. The Commerce Department reported Monday that supplies on shelves and backlots fell by a seasonally adjusted 0.4 percent in July, following an even bigger 0.6 percent drop the month before. At the same time, businesses' sales advanced by 0.4 percent, after having plunged by 1.5 percent in June. Federal Reserve Chairman Alan Greenspan has attributed much of the economy's weakness to an effort by businesses to cut back quickly on production to bring inventories back in line with sales. The economic slowdown, which started in the second half of last year, has curbed Americans' appetite for goods, causing an inventory pileup. To reduce inventories, companies have laid off workers, reduced shifts and deeply discounted merchandise.

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