According to the report from Census Bureau, manufacturers’ and trade inventories for January, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,982.4 billion, up 0.3 percent (±0.1 percent) from December 2020, but were down 1.8 percent (±0.3 percent) from January 2020.

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 $1,568.5 billion, up 4.7 percent (±0.3 percent) from December 2020 and was up 7.1 percent (±0.4 percent) from January 2020. 

The total business inventories/sales ratio based on seasonally adjusted data at the end of January was 1.26. The January 2020 ratio was 1.38.