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Economy in Brief
Texas Factory Sector Index Retreats; Expectations Are Mixed
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index fell to 28.1 in September...
German IFO Index Marks Time
The German IFO Institute index has gone sideways in September...
FIBER: Industrial Commodity Prices Weaken
The FIBER Industrial Materials Price Index eased 0.3% during the last four weeks...
EMU Sinks on New Flash PMI Readings
The EMU PMI sank to its cyclical low in mid-2016 then hit its cycle higher in 2018...
U.S. Financial Accounts See Borrowing Ease with Downswing in Federal Government Needs
Borrowing in U.S. financial markets slowed in Q2 2018...
by Tom Moeller February 21, 2007
The International Council of Shopping Centers (ICSC)-UBS survey indicated that chain store sales slipped for the third week in the last four. The 0.1% decline last week lowered sales so far this month to a level that is all of 0.1% ahead of January after the 2.8% gain that month.
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 sharply for the third week in the last four, by 1.1% (-0.2% y/y).
| ICSC-UBS (SA, 1977=100) | 2/17/07 | 2/10/06 | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Total Weekly Chain Store Sales | 478.1 | 478.7 | 3.5% | 3.3% | 3.6% | 4.7% |
