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Economy in Brief
U.S. Gasoline & Crude Oil Prices Continue to Strengthen
The price of regular gasoline strengthened to $2.71 per gallon (11.9% y/y) in the week ended March 1...
Post Covid-19 Turbulence Rocks and Weakens German Retail Sales
German and other European retail sales have been put through a sort of test of fire in the wake of the covid-19 virus arrival...
ISM Manufacturing Index Improves in February as Prices Continue to Strengthen
Factory sector activity recovered last month following moderate weakening in January...
NABE Projects Firm Growth in 2022, as in 2021
The NABE expects 4.0% real GDP growth in 2022 following a 4.8% rise during 2021...
U.S. Construction Spending Strengthens Again in January
Building activity continues to strengthen...
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% |