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Economy in Brief

U.S. Chain Store Sales Recovered Further
by Tom Moeller October 12, 2004

Chain store sales recovered another 0.5% last week following the prior week's 0.3% gain, according to the International Council of Shopping Centers (ICSC)-UBS.

The two gains pulled sales so far in October almost even with the September average which, battered by Hurricanes, fell 0.7% versusAugust.

During the last ten years there has been a 60% correlation between y/y change in chain store sales and the change in non-auto retail sales less gasoline.

The ICSC-UBS retail chain-store sales index is constructed using the same-store sales reported by 78 stores of seven retailers: Dayton Hudson, Federated, Kmart, May, J.C. Penney, Sears and Wal-Mart.

ICSC-UBS (SA, 1977=100) 10/09/04 10/02/04 Y/Y 2003 2002 2001
Total Weekly Retail Chain Store Sales 437.3 435.0 3.7% 2.9% 3.6% 2.1%
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