February wholesale inventory drop may be another 'green shoot'

Perhaps this is another one of those 'green shoots' in the economy that Fed Chair Ben Bernanke is talking about.

Wholesale inventories declined for the first time in eight months in February, falling 1.5 percent, the U.S. Commerce Department announced Wednesday (pdf), with the overall drop in relation to sales perhaps suggesting that previous production cutbacks are taking effect. Meanwhile, February sales increased 0.6 percent. Economists surveyed by Bloomberg News had expected wholesale inventories to drop by only 0.7 percent.