The U.S. Census Bureau says 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 $1,784.8 billion, up 3.7% from December 2021 and was up 15.5% from January 2021.

Manufacturers’ and trade inventories for January, adjusted for seasonal and trading day differences but not for price changes, were estimated at an end-of-month level of $2,237.9 billion, up 1.1% from December 2021 and were up 11.4% from January 2021.

The total business inventories/sales ratio based on seasonally adjusted data at the end of January was 1.25. The January 2021 ratio was 1.30.