U.S. business inventories declined for the sixth straight month in February, indicating companies continue to whittle through inventory to match declines in demand.Inventories fell 1.3% month-over-month in February, one-tenth more than the consensus estimate for a 1.2% decline, the U.S. Department of Commerce reported on Tuesday.The drop followed a revised 1.3% fallback in January, which was initially reported as -1.1%.
From February 2008, inventories are down 3.5%.
The total business inventories-to-sales ratio was unchanged at 1.43. In February 2008, the ratio was 1.29.