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U.S. Mortgage Loan Applications Post Another Strong Increase
The MBA total Mortgage Applications Index rose 1.6% (-13.2% y/y) during the week ended December 7...
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by Tom Moeller November 27, 2007
Chain store sales dipped 0.1% last week after posing a 0.8% rise during the prior week, according to the International Council of Shopping Centers (ICSC)-UBS.
Despite the weak performance during Thanksgiving week, sales for the month of November rose 0.4% 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 fell 0.1% (-1.1% y/y) for the second weekly decline.
| ICSC-UBS (SA, 1977=100) | 11/24/07 | 11/17/07 | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Total Weekly Chain Store Sales | 478.2 | 478.8 | 2.5% | 3.3% | 3.6% | 4.7% |
