US: Declining Inventory Investment Continued in May

May marked the ninth straight month of inventory declines for merchant wholesalers. Though the pace of decline has moderated somewhat, inventory draw-downs will continue through the remainder of the year. Inventories Continue Steady Slide Inventories declined 0.8 percent, slightly less than the 1.1 percent average sustained over the last nine months. Declines will likely continue for the next several quarters. The value of petroleum inventories and sales increased 4.6 and 4.5 percent