Recent Updates

  • Australia: Overseas Arrivals and Departures (Oct)
  • Japan: TANKAN: Employment Conditions, Supply and Demand, By Industry Detail (Q4)
  • China: Insurance Industry (Nov)
  • New Zealand: Performance of Service Index, Composite PMI (Nov), Electricity Generation and Consumption (Q3)
  • Iran: Monetary & Credit Aggregates (Oct)
  • Israel: Job Vacancy Survey (Nov)
  • more updates...

Economy in Brief

Chain Store Sales Momentum Gone
by Tom Moeller October 31, 2006

Chain store sales fell another 0.2% last week on the heels of a 1.1% drop the week prior, according to the International Council of Shopping Centers (ICSC)-UBS. Average October sales, therefore, fell 0.7% following a 0.5% decline during September.

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 was unchanged 0.4% y/y) last week after a 0.1% slip during the prior period.

ICSC-UBS (SA, 1977=100) 10/28/06 10/21/06 Y/Y 2005 2004 2003
Total Weekly Chain Store Sales 461.8 462.9 2.3% 3.6% 4.7% 2.9%
large image