The combined value of distributive trade sales and manufacturers’ shipments for January, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,568.5 billion, up 7.1% from January 2020 and up 4.7% from December 2020, according to the U.S. Census Bureau.

Manufacturers’ and trade inventories for January, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,982.4 billion, down 1.8% from January 2020 but up 0.3% from December 2020.

The total business inventories/sales ratio based on seasonally adjusted data at the end of January was 1.26. The January 2020 ratio was 1.38.