BUSINESS BRIEFING / THE ECONOMY
Times Wire Reports
Wholesalers slashed inventories more than expected in April as businesses struggled to get stockpiles in line with falling sales.
Still, analysts were slightly encouraged because sales fell at a slower pace than in the previous month.
The Commerce Department said wholesale inventories fell 1.4%, more than the 1.1% decline economists expected. It marked the eighth straight month that inventories dropped.
