Recent Updates
- Spain: Industrial New Orders (May)
- Denmark: Output Price Index, Wholesale Prices (Jun); Sweden: Valueguard-KTH HOX House Prices (Jun)
- Germany: Employment and Turnover in Manufacturing (May)
- Estonia: HICP (Jun), Govt Finance ( May); Azerbaijan: National Income, Capital Investment, State Budget, GDP (Jun), Wages (May); Kyrgyz Republic: Monetary Aggregates, State Budget, National Bank Balance Sheet (May), Trade by Country (Apr)
- US: NABE Industry Survey (Q2)
- more updates...
Economy in Brief
French Retail Sales Rebound In June But Do Not Convince
French retail sales rebounded in June after falling for two consecutive months...
U.S. CPI Increase Moderates; Core Price Gain Steadies
Inflationary pressures moderated last month...
U.S. Government Budget Deficit Widens This Year
The U.S. Treasury Department reported that during the first nine months of fiscal year 2018, the federal government budget deficit totaled $607.1 billion...
U.S. Initial Unemployment Insurance Claims Fall
Initial claims for unemployment insurance dropped to 214,000 during the week ended July 7...
EMU IP Makes Strong May Gain
EMU industrial output expands in all sectors in May...
by Tom Moeller July 19, 2005
Chain store sales rose 0.3% last week for the third consecutive weekly rise, according to the International Council of Shopping Centers (ICSC)-UBS survey. So far this month sales are 0.4% higher than during June when sales 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 fell a sharp 1.1% w/w (-0.2% y/y) following a downwardly revised 0.3% rise 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.
| ICSC-UBS (SA, 1977=100) | 07/16/05 | 07/09/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total Weekly Chain Store Sales | 456.9 | 455.7 | 4.0% | 4.6% | 2.9% | 3.6% |
