Recent Updates

  • ** New Zealand's Jobs Online Report has been delayed by the source, MBIE, until 6:00 PM ET 4/26.**
  • Denmark: Business Survey (Q2), Confidence Indicators (Apr); Finland: Population (Mar); Sweden: PPI, Import and Export Prices, Producer Prices Home Sales (Mar)
  • Kyrgyz Republic: State Budget (Mar)
  • Germany: GfK Consumer Climate Survey (Apr)
  • Singapore: IP (Mar); Brunei: International Trade (Dec); Myanmar: Overseas Employment (Aug); Korea: GDP (Q1); China: Gini
  • more updates...

Economy in Brief

Chain Store Sales Gain
by Tom Moeller May 3, 2005

Chain store sales gained 0.5% during the final week of April according to the International Council of Shopping Centers (ICSC)-UBS survey. The increase raised the average of sales in April 0.4% versus March when sales fell 0.2%.

During the last ten years there has been a 56% correlation between the y/y change in chain store sales and the change in non-auto retail sales less gasoline, as published by the US Census Department. Chain store sales correspond directly with roughly 14% of non-auto retail sales less gasoline.

The leading indicator of chain store sales from ICSC ticked 0.1% (-0.3% y/y) higher, the third consecutive weekly rise following three declines.

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.

Reexamining the Consumption-Wealth Relationship: The Role of Uncertainty from the Federal Reserve Bank of New York can be found here.

ICSC-UBS (SA, 1977=100) 04/30/05 04/23/05 Y/Y 2004 2003 2002
Total Weekly Chain Store Sales 458.0 455.8 3.0% 4.6% 2.9% 3.6%
large image