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 $1.360 trillion. That is up 0.8% from June and up 5.3% from a year ago.Manufacturers’ and trade inventories were estimated at an end-of-month level of $1.750 trillion. That is up 0.4% from June and up 5.9% from a year ago.




The total business inventories-to-sales ratio at the end of July was 1.287, down from 1.291 in June. The July 2013 ratio was 1.278.