Recent Updates

  • UK: BBA Mortgage and Consumer Lending (Aug)
  • Lithuania: Consumer Surveys (Sep)
  • Norway: LFS (Jul); Sweden: International Trade (Aug)
  • JapanR: Monthly Labor Survey by Prefecture (Apr)
  • Vietnam: Industrial Production (2017), FDI by Industry (Sep); China: State Owned Enterprise Operations, Trade in Services (Aug), External Assets and Liabilities (Q2); Singapore: IP (Aug)
  • Euro area: ACEA Commercial Vehicle Registrations (Jul, Aug)
  • more updates...

Economy in Brief

U.S. Chain Store Sales Slip
by Tom Moeller April 22, 2008

According to the International Council of Shopping Centers ICSC-UBS Chain Store survey, sales slipped 0.7% last week and took back about all of the prior week's gain.

Despite the latest decline sales so far in April have risen 0.8% from March, due to gains early in the month. Chain store sales in March were about unchanged from February.

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.

During the latest week the leading indicator of chain store sales from ICSC-UBS fell 0.5% (-2.0% y/y) and reversed most of the prior week's gain.

Opportunity Knocks: Selling Our Services to the Rest of the World from the Federal Reserve Bank of Dallas and it is available here.

ICSC-UBS (SA, 1977=100) 04/19/08 04/12/08 Y/Y 2007 2006 2005
Total Weekly Chain Store Sales 491.8 495.3 1.4% 2.8% 3.3% 3.6%
close
large image