WASHINGTON (AP) — Inventories held by businesses rose for a fifth consecutive month in May but sales dropped for the first time in more than a year.
The Commerce Department says inventories edged up 0.1 percent in May. Sales dropped 0.9 percent, the first decline since March 2009 when they fell 2.1 percent.
The drop in total business sales was further evidence that the recovery was slowing in the late spring. A separate report Wednesday said sales at the retail level dropped for a second straight month in June.
