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Orders boost cuts inventories

Wednesday, June 9, 2004 | 11:25 a.m.

WASHINGTON -- Inventories at U.S. wholesalers unexpectedly fell 0.1 percent in April, the first decline in eight months, as companies couldn't keep up with demand for products including pharmaceuticals and imported automobiles.

The decline in stockpiles left the value of goods at distribution centers, warehouses and terminals at $301.2 billion, the Commerce Department said today. Supplies had increased 0.5 percent in March. Wholesale sales rose 0.8 percent in April after a 2.9 percent gain in March that was the largest in more than nine years.

Inventories relative to sales dropped to a record low of 1.12 month's supply in April. Depleted inventories suggest companies will have to order more from factories and suppliers, spurring production, economists said.

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