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Economy in Brief
German PPI Rises at Nine-Month High Pace
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The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
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Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
Japan's Trade Deficit Swings Back to Surplus (Small Surplus)
Japan's early June trade results show a goods trade position having swung back to surplus in June from deficit in May...
by Carol Stone August 23, 2005
Chain store sales fell for a third week, according to the International Council of Shopping Centers (ICSC)-UBS survey. A 0.3% decline in the week ended last Saturday, August 20, followed the prior week's 0.3% decrease. That puts the ICSC sales index in the first three weeks of August back virtually level with its July average, after a strong, but unsustainable jump the last week of that month. The latest week is 4.0% ahead of a year ago.
A more hopeful sign came in the ICSC's leading indicator of chain store sales, which gained 0.5% in the August 13 week, a second consecutive rise, bringing it almost back up to its mid-July level.
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) | 08/20/05 | 08/13/05 | Y/Y | 2004 | 2003 |
|---|---|---|---|---|---|
| Total Weekly Chain Store Sales | 456.8 | 458.0 | 4.0% | 4.6% | 2.9% |
