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U.S. business inventories fell one percent in May, marking a ninth consecutive monthly decline, pressured by a steep drop in stocks of autos and parts, Commerce Department data showed Tuesday.
Economists polled by Reuters had expected a 0.8 percent decline, after a 1.3 percent fall in April that was initially reported as a 1.1 percent decline.
The inventory of motor vehicles and parts dropped 4.2 percent in May, the biggest decrease since a 5.4 percent drop in July 2005.
Business sales slipped 0.1 percent in May. That pushed down the inventory-to-sales-ratio, which measures how long it would take to clear shelves at the current sales pace, to 1.42 months' worth from 1.43 in April.
Companies have been purging inventory as the weakening economy crushed demand, and that contributed to the deepening recession in late 2008 and early 2009.
Many economists expect that pattern to reverse soon, which should help lift economic growth in the second half of the year.
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