Business Inventories Fell in Nov.

U.S. business inventories fell for the tenth straight month in November and sales also declined, the government said on Wednesday.

Inventories at U.S. businesses fell 1.0 percent in November after a revised 1.6 percent fall in October, the Commerce Department said. The fall was slightly steeper than the 0.9 percent decline expected by analysts.

Total business sales also fell, posting a drop of 1.4 percent compared with a revised rise of 2.8 percent the previous month. Retail sales plunged 3.4 percent, the biggest drop since records began in 1992, following a 6.9 percent rise in October.

The stock-to-sales ratio was unchanged at 1.39 months.

Inventories at manufactures fell 0.9 percent and stocks at retailers posted a decline of 1.0 percent. Inventories at motor vehicles and parts dealers were down 1.9 percent following a record 8.9 percent drop in October.

Sales at manufacturers dropped 0.6 percent after a rise of 2.3 percent in the previous month.