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Economy in Brief

Chain Store Sales Fell
by Tom Moeller June 27, 2006

The International Council of Shopping Centers (ICSC)-UBS reported that chain store sales fell 0.4% last week after having been unchanged the prior period.

Sales in June are 0.2% below the May average which fell 0.4% from April. During the last ten years there has been a 47% correlation between the y/y change in chain store sales and the change in nonauto retail sales less gasoline.

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.

The leading indicator of chain store sales from ICSC-UBS fell 0.3% (-2.0% y/y) during the latest period after three consecutive weeks of increase.

Parsing Recent Inflation Data from the Federal Reserve Bank of Dallas can be found here

ICSC-UBS (SA, 1977=100) 06/24/06 06/17/06 Y/Y 2005 2004 2003
Total Weekly Chain Store Sales 471.6 473.6 4.1% 3.6% 4.7% 2.9%
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