Recent Updates
- Japan: ** Japan IP forecasts have rebased from 2010=100 to 2015=100. We are currently working on processing the new data.**
- ** New Zealand Jobs Online has changed its reported frequency from monthly to quarterly and rebased from August 2010=100 to Q4 2010=100. **
- Australia: PPI, Manufacturing Price, Construction Materials Prices (Mar); New Zealand: Trade by Country by Commodity, International Trade (Mar), ANZ-Roy Morgan Consumer Confidence (Apr)
- more updates...
Economy in Brief
Kansas City Federal Reserve Factory Index Hits Record High
The Kansas City Fed reported that its index of regional manufacturing sector business activity surged to a record 26...
U.S. Initial Unemployment Insurance Claims Decline Sharply
Initial claims for unemployment insurance fell sharply to 209,000 (-17.1% y/y)...
German Confidence Flattens and Falters
German confidence for May is mooted at a 97.8% queue percentile standing...
U.S. Mortgage Loan Applications Are Little Changed; Rates Remain High
The MBA total Mortgage Applications Volume Index eased 0.2% last week (-1.9% y/y)...
Japan Shows Very Moderate Growth As Trade War Clouds Gather
Japan’s sector indexes showed a solid gain in February...
by Tom Moeller September 13, 2005
The International Council of Shopping Centers (ICSC)-UBS survey indicated that chain store sales fell 0.2% last week after no change the prior week. So far this month sales are 0.5% below the August average which fell 0.1% from July.
The ICSC indicated that at least 13 shopping malls were closed indefinitely be Hurricane Katrina.
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% in the latest week (-0.3% y/y) following 0.2% declines during the prior two weeks.
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) | 09/10/05 | 09/03/05 | Y/Y | 2004 | 2003 |
|---|---|---|---|---|---|
| Total Weekly Chain Store Sales | 454.6 | 455.4 | 3.5% | 4.6% | 2.9% |
