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Economy in Brief
U.S. FHFA House Price Index Posts Another Record Increase
The FHFA Price Index jumped 1.7% during September...
U.S. Energy Prices Mixed
The price for a barrel of West Texas Intermediate crude oil increased to an average of $41.62 (-27.0% y/y)...
IFO Outlook Loses Momentum
The IFO climate index rose to a net value of 1.2 in November...
Chicago Fed National Activity Index Improves During October
The Federal Reserve Bank of Chicago's National Activity Index rebounded to 0.83 during October...
PMIs Bend lower in EMU on Covid-19 Actions
Economies in Europe, the U.K., and even Japan are being beaten back by the Covid-19 virus...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller February 15, 2005
Chain store sales inched up another 0.1% last week following the 2.2% spike the prior week according to the International Council of Shopping Centers (ICSC)-UBS survey.
The rise lifted sales in early February 0.7% ahead of the January average which rose 0.9% from December.
During the last ten years there has been a 58% correlation between y/y change in chain store sales and the change in non-auto retail sales less gasoline, as published by the US Census Department.
The leading indicator of chain store sales from ICSC rose 0.3% in early February (+0.7% y/y).
The ICSC-UBS retail chain-store sales index is constructed using the same-store sales (stores open for one year) reported by 78 stores of seven retailers: Dayton Hudson, Federated, Kmart, May, J.C. Penney, Sears and Wal-Mart.
| ICSC-UBS (SA, 1977=100) | 02/12/05 | 02/05/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total Weekly Chain Store Sales | 446.2 | 445.8 | 1.7% | 4.6% | 2.9% | 3.6% |
