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Economy in Brief
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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...
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PMIs largely are improving in February...
U.S. Personal Income & Spending Surge With Stimulus Payments in January
Personal income jumped 10.0% (13.1% y/y) last month...
Chicago Business Barometer Declines Sharply in February
The ISM-Chicago Purchasing Managers Business Barometer fell 4.3 points in February to 59.5...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller July 12, 2005
Chain store sales inched 0.1% higher last week following a 0.5% rise during the opening week of July, according to the International Council of Shopping Centers (ICSC)-UBS survey. So far this month sales are 0.3% higher than the June average which fell 0.4% versus May.
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 rose 0.4% w/w (1.0% y/y) following no change during the week prior.
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.
Productivity and the Post-1990 U.S. Economy from the Federal Reserve Bank of St. Louis can be found here.
ICSC-UBS (SA, 1977=100) | 07/09/05 | 07/02/05 | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Total Weekly Chain Store Sales | 455.7 | 455.2 | 3.9% | 4.6% | 2.9% | 3.6% |