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 $1,480.8 billion, up 1.5% from November 2019 but down 0.1% from October 2020, according to the U.S. Census Bureau.

Manufacturers’ and trade inventories for November, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,959.9 billion, down 3.2% from November 2019 but up 0.5% from October 2020.

The total business inventories/sales ratio based on seasonally adjusted data at the end of November was 1.32. The November 2019 ratio was 1.39.