The combined value of distributive trade sales and manufacturers’ shipments for November, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,345.8 billion, down 0.2 percent from October, but up 2.2 percent from November 2013, 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 $1,763.6 billion, up 0.2 percent from October and up 4.4 percent from November 2013.

The total business inventories/sales ratio based on seasonally adjusted data at the end of November was 1.31. The November 2013 ratio was 1.28.