Recent Updates

  • US: Housing Vacancies & Homeownership (Q1), FHFA Home Mortgage Terms, Advance Durable Goods, Advance Trade & Inventories (Mar)
  • Canada: Payroll, Employment, Earnings & Hours (Feb)
  • Spain: Mortgage Market, Labor Force Survey (Q1) State Public Finance (Mar), Social Security Funds, Consolidated, Central Government Public Finances (Feb), Tax Receipts (Q1, Mar)
  • South Africa: Tourism & Migration, Export & Import Price Indexes (Feb), PPI (Mar); Kenya: GDP (2017)
  • UK: RICS Commercial Market Survey (Q1) Mortgage and Consumer
  • more updates...

Economy in Brief

U.S. Chain Store Sales Eased
by Tom Moeller November 13, 2007

Chain store sales last week eased 0.5% and reversed half of the gain earlier in November, according to the International Council of Shopping Centers (ICSC)-UBS.

For both weeks this month, sales were up a small 0.2% from the October average which fell 0.8% 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 rose 0.2% (-0.1% y/y) reversing a price of the prior week's rise.

The October 2007 Senior Loan Officer Opinion Survey on Bank Lending Practices from the Federal Reserve Board is available here.

ICSC-UBS (SA, 1977=100) 11/10/07 11/03/07 Y/Y 2006 2005 2004
Total Weekly Chain Store Sales 475.2 477.8 2.7% 3.3% 3.6% 4.7%
large image