At the end of July, inventories held by U.S. manufacturers were $473.04 billion, up six-tenths of a percentage point from June's end-of-month $470 billion, the U.S. Commerce Department reported on September 14.
For all of U.S. business, an economic sector that includes retailers and merchant wholesalers in addition to manufacturers, July end-of-month inventories totaled $1.35 trillion, up six-tenths of a percent from June's end-of-month $1.34 trillion. July's figure was a tenth of a percentage point higher than the level economists generally expected.
The inventory to sales ratio for manufacturers was 1.17 in July, based on seasonally adjusted data. It was 1.17 in June. For the larger business group, the inventory to sales ratio in July was 1.26, the same as in June.
July data are the most recent available from the U.S. Commerce Department.