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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (51669)	9/7/2001 10:26:40 AM
From: michael97123	Respond to of 70976

Friday September 7, 10:07 am Eastern Time U.S. wholesale inventories fell sharply in July WASHINGTON, Sept 7 (Reuters) - U.S. wholesalers continued to work off bloated stocks of unsold goods in July, as inventories posted their biggest monthly decline in almost five years, according to a government report released on Friday. The Commerce Department said wholesale inventories fell a hefty 0.7 percent in the month to $299.62 billion, while sales rose 0.6 percent to $227.63 billion. The drop in inventories was the sharpest since a 0.9 percent decline seen in September 1996. The report seemed to confirm the belief of many analysts that businesses may be near the end of an inventory correction and are finally getting the supply of goods more in line with actual sales. Once firms work off their unsold goods backlog, production can ramp back up, which should boost economic growth. The closely-watched stock-to-sales ratio, which measures how long it would take to deplete current inventories, dropped to 1.32 months in July from June's 1.33 months.