Recent Updates

  • US: Composite Indexes (Aug)
  • Canada: Employment Insurance, Pipeline Statistics, Investment in New Housing Construction (Jul), Government Finance (Q2)
  • Canada Regional: Employment Insurance by Province (Jul)
  • US: Philadelphia FRB Mfg Business Outlook Survey (Sep)
  • Norway: Interest Rates on Loans (Mar-May), Monetary Policy Projections (Q3); Sweden: Financial Accounts (Q2); Denmark: Consumer Confidence (Sep)
  • Turkey: Consumer Confidence (Sep); Kuwait: CPI (Aug); Qatar:
  • more updates...

Economy in Brief

Weekly Chain Store Sales Slip, Month A Bit Better
by Tom Moeller November 28, 2006

Chain store sales during Thanksgiving week slipped 0.4% after a 1.2% surge the prior period, according to the International Council of Shopping Centers (ICSC)-UBS. Despite the decline November sales advanced 0.3% from the October average, which fell 0.7%, but it was only the second monthly gain since April.

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 fell 0.3% (+0.1% y/y) after two week's of respectable increase.

ICSC-UBS (SA, 1977=100) 11/25/06 11/18/06 Y/Y 2005 2004 2003
Total Weekly Chain Store Sales 466.5 468.3 2.6% 3.6% 4.7% 2.9%
large image