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Economy in Brief

U.S. Chain Store Sales Recovered Last Week
by Tom Moeller April 29, 2008

The International Council of Shopping Centers reported, in its ICSC-UBS Chain Store survey, that sales recovered 0.9% last week after the prior period's 0.7% slip.

So far in April, sales have risen 1.0% from March after sales were about unchanged during 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.

During the latest week the leading indicator of chain store sales from ICSC-UBS slipped 0.1% (-2.1% y/y) after the 0.6% decline during the prior week.

The chain store sales figures are available in Haver's SURVEYW database.

ICSC-UBS (SA, 1977=100) 04/26/08 04/19/08 Y/Y 2007 2006 2005
Total Weekly Chain Store Sales 496.3 491.8 1.9% 2.8% 3.3% 3.6%
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