The combined value of distributive trade sales and manufacturers’ shipments for March, adjusted for seasonal and trading-day differences but not for price changes was estimated at $1,309.7 billion, up 0.4 percent from February and down 2.1 percent from March 2014, according to the U.S. Census Bureau.

Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,786.2 billion, up 0.1 percent from February 2015 and were up 2.9 percent from March 2014.

The total business inventories/sales ratio based on seasonally adjusted data at the end of March was 1.36. The March 2014 ratio was 1.30.