The U.S. Census Bureau reports that the combined value of distributive trade sales and manufacturers’ shipments for July, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,293.6 billion. This is up 0.6% from June and up 4.6% from a year ago.

Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,661.9 billion. This is up 0.4% from June and up 3.2% from a year ago.

The total business inventories/sales ratio based on seasonally adjusted data at the end of July was 1.28, down from 1.29 in June. The July 2012 ratio was 1.30.