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Economy in Brief

Chain Store Sales Rose
by Tom Moeller November 21, 2006

Chain store sales last week improved 1.2% and recovered all of the prior week's 0.8% decline, according to the International Council of Shopping Centers (ICSC)-UBS. The increase lifted sales in November 0.3% from the October average which fell 0.7% from September.

During the last ten years there has been a 45% 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 added 0.5% (0.8% y/y) to the prior week's 0.8% jump.

ICSC-UBS (SA, 1977=100) 11/18/06 11/11/06 Y/Y 2005 2004 2003
Total Weekly Chain Store Sales 468.2 462.9 2.2% 3.6% 4.7% 2.9%
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