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Economy in Brief
German PPI Accelerates
The German year-on-year PPI has generally been decelerating since early 2017...
U.S. Leading Economic Indicators Signal Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% during March...
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The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.2 during April...
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Initial unemployment insurance claims slipped to 232,000 (-6.1% y/y) during the week ended April 14...
U.K. Retail Sales Fall
U.K. GDP is expected to cool its jets when the first quarter GDP number is released...
by Tom Moeller October 18, 2005
Chain store sales rose for the fourth consecutive week. Last week's 0.4% increase, according to the International Council of Shopping Centers (ICSC)-UBS survey, lifted sales 1.3% above the mid-September low.
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 squeaked out a 0.1% (-2.5% y/y) increase.
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) | 10/15/05 | 10/08/05 | Y/Y | 2004 | 2003 |
|---|---|---|---|---|---|
| Total Weekly Chain Store Sales | 450.6 | 448.9 | 3.3% | 4.6% | 2.9% |
